State-owned Qatar Petroleum International is taking a stake in Royal Dutch Shell PLC's (RDSB.LN) chemical joint ventures in Singapore, extending cooperation between the two companies beyond Qatar.
Qatar Energy Minister Abdulla Bin Hamad Al-Attiyah and Shell Chief Executive Peter Voser will sign the agreement Wednesday, Shell said in a statement, without providing further details.
Shell Eastern Petroleum operates a 500,000-barrel-a-day refinery on Pulau Bukom. The company is building a petrochemical complex which comprises an 800,000-metric-ton-a-year steam cracker and two downstream units.
Singapore is Shell's largest petrochemical production and export center in the Asia Pacific region, according to its website.
Shell jointly operates Petrochemical Corporation of Singapore with a Japanese consortium led by Sumitomo Chemicals. It also co-owns a styrene monomer and propylene oxide plant with German chemical major BASF.END
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