Qatar becomes the largest shareholder of Royal Dutch Shell

Qatar's sovereign investment fund acquired a stake in the Anglo-Dutch petroleum giant Royal Dutch Shell, RBC reports with reference to Reuters. Representatives of Shell confirmed the purchase of shares in the company by Qatar but refused to specify its size. 

 "We are pleased to announce that Qatar's sovereign investment fund has become a major long-term shareholder in Shell, particularly given the strategic partnership between the company and the government of Qatar," the British-Dutch company commented.

According to Reuters, the 5 per cent share in Shell makes Qatar's sovereign investment fund the largest shareholder.

Against the background of this news Shell showed an upward trend in European stock trading.

In April of this year Qatar's sovereign investment fund increased its stake in the French petroleum giant Total to 3%.

Royal Dutch Shell is Europe's largest oil company by market value