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Brazil: Qatar buys Shell oil assets for $1B

By  |  January 29, 2014

Royal Dutch Shell has reportedly inked a deal with Qatar Petroleum that sees 23 percent of a Brazil-based offshore oil project land in Qatar’s hands for $1 billion.

The Netherlands- and UK-based oil giant still holds a 50 percent working interest in the project, Parque das Conchas, and confirmed it still runs two oil vessels in Brazil.

The sale to Qatar follows Shell’s own 23 percent acquisition in the project, which was also made for $1 billion.

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