LONDON, Sept 7 Qatar wants to become the biggest
shareholder in Royal Dutch Shell by raising its stake
to 7 percent to strengthen its ties with the oil company and
further invest its wealth in western assets, a report said on
The Middle East Economic Survey (MEES) said Qatar's
sovereign wealth fund, the Qatar Investment Authority, was
looking to raise its stake from below 3 percent, which would
make it the biggest shareholder, above Blackrock's 5 percent.
Shell declined to comment on the report.
In May, MEES reported that Qatar was looking to buy 3-5
percent of Shell. Shell confirmed at the time that Qatar had
bought a large stake.
British stock market rules require any party to disclose a
holding of over 3 percent in a listed company. Qatar has not
made such a disclosure.
QIA has been the most active of the region's sovereign
wealth funds in recent years, deploying profit from its natural
gas riches into assets ranging from German sportscar maker
Porsche to British bank Barclays.
A senior executive of the Qatari fund said in April the
financial crisis had restricted investment in commodities and he
expected a supply-demand gap to emerge by 2016 or 2017.
Apart from Shell, QIA has bought stakes in French oil major
Total and European utilities Energias de Portugal and
The fund has also been buying into Xstrata, amassing
a stake of 12.3 percent and blocking the London-listed miner's
merger with trader Glencore.
Shell operates multi-billion dollar natural gas projects in