Qatar Petroleum Buys Congo Stake as Investment at Home Declines
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Qatar Petroleum International agreed to purchase a stake in Total SA’s Congo operations, its first investment in an overseas offshore oil field, amid a slowdown in energy spending at home.
The foreign investment arm of Qatar Petroleum, the state-run energy company, will participate in a 15 percent capital increase for the Republic of Congo unit, Total and Qatar Petroleum International, or QPI, said in a joint e-mailed statement. QPI will contribute to Total’s investment in Congo, specifically the Moho North project, the companies said today.