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Shell ditches giant project following sliding oil price

The virtually unstoppable slide in the oil price now makes Shell scrap its involvement in the large-scale petrochemical Al Karaana project in Qatar, worth around USD 6.5 billion, according to the Financial Times.

Photo: Gazprom

Another major international energy investment project is now being postponed as the finances behind the project no longer cohere with the low oil price of just USD 46 per barrel.

Shell has decided to shelve the large-scale petrochemical Al Karaana project in Qatar, worth around USD 6.5 billion, according to the Financial Times.

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