Qatar Petroleum International has become the latest organisation to invest in Brazil’s offshore oil industry. QPI, the global arm of Qatar Petroleum, which is the world’s largest liquefied natural gas exporter, on Wednesday purchased a 23% stake in the Parque das Conchas oilfield off the north coast of Rio de Janeiro state for $1 billion from Royal Dutch Shell.
To date, QPI has only undertaken limited expansion overseas. However, the Qatari energy minister told Reuters in October that the Gulf state is keen to expand its reach.
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