 | MEED: Qatar hub of
construction market QATAR has emerged as one of
the most lucrative global
markets for construction companies
with more than $70
billion worth of major projects
to be awarded until 2022,
according to statistics from the
MEED Qatar study.
The country´s ...
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| | Shell scrambles to pay
$1 billion bill for Iran oil |
 ROYAL Dutch Shell is struggling
to pay off $1 billion that
it owes Iran for crude oil
because European Union and
US financial sanctions now
make it almost impossible to
process payments, industry
sources said.
Four sources said the oil
major owes a large sum to the
National Iranian Oil
Company (NIOC) for deliveries
of crude, with one putting
the figure at close to $1 billion.
A debt of that size would
equate to roughly four large
tanker loads of Iranian crude
or about 8 million barrels.
"Shell is working hard to
figure out a way to pay
NIOC," said an industry
source, who requested
anonymity. "It´s very sensitive
and very difficult. They want
to stay on good terms with
Iran ... | | | Sinopec Q4 net
profit falls 30% |  CHINA Petroleum and
Chemical Corp (Sinopec
Corp), the country´s second
largest integrated oil company,
posted a 30 percent fall
in fourth-quarter net profit
on Sunday, missing forecasts,
as big losses at its
refining arm offset upstream
gains.
Sinopec, Asia´s largest
refiner, saw heavy refining
losses last year as increases in
domestic prices for oil products
failed to keep pace with
strong rises in international
crude prices.
"We estimate that in 2012
the price of international
crude oil will generally fluctuate
in a high range due to
tight geopolitical situation
and other factors," the company
said its annual report.
Sinopec´s profitability may
have improved slightly... | | | Japan, Canada to launch
free-trade talks |  JAPAN and Canada formally
agreed on Sunday to launch
talks on a free trade agreement
expected to result in the
first such pact between Tokyo
and one of the Group of Eight
major economies.
The agreement was
announced by Japanese
Prime Minister Yoshihiko
Noda and his Canadian counterpart
Stephen Harper after
a meeting in Tokyo.
They also agreed to boost
cooperation between their
energy industries, as Canada
has abundant natural
resources such as natural gas
and Japan relies on imports
for much of its energy needs.
Most of Japan´s nuclear
reactors remain offline in the
wake of a massive earthquake
and tsunami sparked a crisis
at the Fukushima Dai-ichi
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