LONDON, Jan 29 (Reuters) - Oil firm Royal Dutch Shell is selling a stake in a Brazilian oil project to QatarPetroleum International (QPI) for $1 billion, in line with thisyear's plan to ramp up disposals.
Shell said on Wednesday it was selling 23 percent of theParque das Conchas or BC-10 project off the coast of Brazil,leaving it with a 50 percent interest. It will continue tooperate the 50,000 barrels of oil per day project.
Earlier in January Shell sold a stake in a gas project inWestern Australia for $1.14 billion as part of its drive toimprove return on investment, days after it had issued a shockprofit warning for the fourth quarter.
Analysts and shareholders said the company's weak resultswould push the world's number-three investor-controlled energyfirm to keep a tighter control on costs after it said 2013capital expenditure would peak at about $45 billion.
Shell had already said last October that it wouldsignificantly step up disposals in 2014 to keep cash flowing in.
Recent media reports have suggested the company'sdivestments could total $15 billion this year, equivalent toaround 6.5 percent of its $228 billion market capitalisation.
QPI, the global arm of Qatar Petroleum, which is the world'slargest liquefied natural gas exporter, has to date undertakenonly limited expansion overseas but the Gulf state's energyminister told Reuters in October that QPI wants to expand itsreach.
Shell, which said the Brazilian disposal was subject toregulatory approval by that country's authorities, is due torelease its fourth-quarter results on Thursday.
Shares in the company closed at 2,123.5 pence on Tuesday.
