They are always short of oil

New oil - new problems

In brief: Oil of Qatar is gradually coming under control of two world leaders in the oil business.

British-Netherlands company Royal Dutch Shell and the Chinese China National Petroleum Corp (CNPC) signed a deal with the state-owned Qatar Petroleum. An agreement for a period of 30 years, gives the right of European and Chinese organizations to extract gas in Qatar, as well as sell it to third parties.

Under the deal, Royal Dutch Shell and CNPC will have access to deposits, located near the industrial city of Ras Laffan, the total area of 8 thousand square meters. km. At the same time the British-Netherlands concern given the right to develop 75% of this deposit, and the Chinese company – the remaining 25%. Under the agreement, the company have the right to develop as a deposit on land and underwater deposits. The financial part of the deal were not disclosed. Qatar, which is in third place in the world’s largest gas reserves, plans to increase the output of “blue fuel” on its territory up to 5 million barrels. per day by 2014. Now the country produces daily 2.7 million barrels.

Ukrainian Globalist
2010-05-16 21:14, Economics.

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