Qatar, Shell ink five-year crude oil supply deal

According to a report by Reuters, Qatar has agreed to supply Shell in Singapore with up to 18 million barrels of oil per year under a five-year deal.

QatarEnergy said that it would supply Shell International Eastern Trading Company with Qatar Land and Qatar Marine crude oil over the course of five years, beginning in January.

“We are delighted to sign our first ever five-year crude sales agreement. This agreement further strengthens QatarEnergy’s relationship with Shell,” QatarEnergy’s Chief Executive Officer Saad Sherida Al-Kaabi was quoted as saying by the same media.