Qatar Petroleum and Shell RDSa.l have decided not to proceed with their US$6.4 bln Al Karaana petrochemical project in the Gulf state. This is the region's second big energy project to be shelved since oil prices began to plunge since November 2014. Prices quoted by contractors to build the huge complex showed the project was "commercially unfeasible, particularly in the current economic climate prevailing in the energy industry", the two companies said in a joint statement.
19-Jan-15 
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