Qatar to Supply Crude Oil to Shell in Five-year Deal

Qatar to Supply Crude Oil to Shell in Five-year Deal
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Qatar to Supply Crude Oil to Shell in Five-year Deal

Qatar to Supply Crude Oil to Shell in Five-year Deal

Qatar has agreed to supply Shell in Singapore with up to 18 million barrels of oil a year for five years in what the Gulf state's energy company said was its first ever five-year crude sales deal.

QatarEnergy said it had agreed with Shell International Eastern Trading Company to supply up to 18 million barrels each year of Qatar Land and Qatar Marine crude oils starting in January, Reuters reported.

“We are delighted to sign our first ever five-year crude sales agreement," QatarEnergy Chief Executive Saad Sherida Al-Kaabi said in a statement.

"This agreement further strengthens QatarEnergy’s relationship with Shell."



Saudi Economy Minister: Stability in Middle East Is Imperative for Global Growth

Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim speaks at Davos. (Asharq Al-Awsat)
Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim speaks at Davos. (Asharq Al-Awsat)
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Saudi Economy Minister: Stability in Middle East Is Imperative for Global Growth

Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim speaks at Davos. (Asharq Al-Awsat)
Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim speaks at Davos. (Asharq Al-Awsat)

Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim stressed on Monday that the Kingdom is looking forward to working with the second Trump administration, as Riyadh has worked with previous ones.

“We look forward to working with the second Trump administration... to address and counter some of the global challenges we’re facing, including the tepid economic growth that we are witnessing as a global community today,” he said from the World Economic Forum (WEF) in Davos.

The minister then noted that any step towards peace in the Middle East is a positive one, with stability in the region “imperative” for global growth.

In an interview with Bloomberg television, Alibrahim said the Kingdom and the US have long-standing strong relations that have spanned eight decades. “It has been strong regardless of which administration was in office,” he underscored.

“We are here today to work together for global prosperity,” he said, adding that, “any step towards peace is a positive progress step. We in the Kingdom have always called for laying a clear and universal path towards more peace, more stability.”

Also, Alibrahim said the Kingdom is always focusing on fostering more global dialogue.

“We’ve been invited to the BRICS, similar to how we’ve been invited to many other multilateral platforms in the past historically,” he said. “We assess many different aspects of it before a decision is made and right now, we are in the middle of that.”

He added that Vision 2030 is Saudi Arabia’s program to a long-term restructure of the economy. “Vision 2030 is on track and moving with a lot of momentum,” the minister stressed.

The Kingdom’s focus-areas is building more human capital potential and having human-led growth, he noted.