Qatar strikes five-year crude oil deal with Singapore's Shell

Qatar on Thursday, December 28, sealed a historic five-year crude oil supply deal with Shell in Singapore. This landmark agreement marks the first-ever five-year crude sales deal for QatarEnergy, the Gulf state's leading energy company.

Under the terms of the deal, QatarEnergy has entered into an agreement with Shell International Eastern Trading Company to provide Shell with a substantial annual supply of up to 18 million barrels of Qatar Land and Qatar Marine crude oils. The commencement of this significant arrangement is set for January, signaling a long-term commitment between the two energy giants.

QatarEnergy's Chief Executive, Saad Sherida Al-Kaabi, expressed immense satisfaction with the partnership, stating, "We are delighted to sign our first-ever five-year crude sales agreement. This agreement further strengthens QatarEnergy’s relationship with Shell." The strategic alliance is expected to enhance the stability and reliability of crude oil supply for both parties involved.