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Total and Shell Ready to Step in as ExxonMobil Prepares to Exit Qatari Project

1:23 AM MDT | July 6, 2010 | Natasha Alperowicz

Sources in Qatar have confirmed to CW that ExxonMobil Chemical is on the verge of stepping out of a previously announced multi-billion dollar petrochemical joint venture project at Ras Laffan, Qatar. The information is "still confidential", the sources say. ExxonMobil declined to comment. Qatar Petroleum (QP; Doha) in January selected ExxonMobil Chemical from among several contenders, including Total Petrochemicals and Shell Chemicals, to partner it in a new petrochemical complex, based on a steam cracker with capacity for 1.6 million m.t./year and...

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