Royal Dutch Shell is selling 23% of its stake in a Brazilian oil project $1 billion to Qatar Petroleum International.
The sale involves Shell’s assets in the Parque das Conchas, BC-10, project off the coast of Brazil.
Shell will retain a 50% interest after the sale and will continue to be the operator in the 50,000 bpd project.
The sale comes as a move for the company to increase it’s disposals as analysts and shareholders push the company towards tighter capital controls after weak financial results.
Shell had already said last October that it would significantly step up disposals in 2014 to keep cash flowing in.
