Beating the impact of global health cum economic crisis created by COVID-19 pandemic with timely strategic decisions, Qatar Petroleum is steadily advancing towards achieving global distinctive identity.
Like many other state institutions of Qatar which are well tackling the coronavirus pandemic through wellplanned actions and policies, Qatar Petroleum too is growing with every passing day at international stage.
Now as part of its ongoing efforts to strengthen its global competitive position in the downstream sector, Qatar Petroleum has announced its decision to integrate Qatar Chemical and Petrochemical Marketing and Distribution Company (Muntajat) into QP.
The integration will involve leveraging a combined set of human, technical, commercial, and financial capabilities, as well as customer relationships into the QP organization with the aim of being completed within the next few months, which will enable QP to continue expanding its global reach, and to remain the partner of choice providing superior high quality products and excellence in customer service.
Separately, H E Saad bin Sherida Al Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Petroleum, has stated that there is no question of Qatar cutting its gas production to influence the market price. In an interview with CNBC International, H E the Minister reaffirmed that Qatar, the world’s largest LNG producer, will go ahead with its original plans to ramp up gas production.
In recent times, Qatar Petroleum has expanded its global presence. Recently, Qatar Petroleum entered into a farm-in agreement with Total to acquire a 45% participating interest in blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Côte d’Ivoire. Before that Qatar Petroleum (QP) had also entered into three farm-in agreements to acquire about 30 percent of Totals participating interest in blocks 15, 33 and 34 located in the Campeche basin, offshore Mexico.
In April this year, Qatar Petroleum had entered into an agreement to reserve LNG ship construction capacity in China to be utilized for Qatar Petroleum’s future LNG carrier fleet requirements, including those of its ongoing North Field expansion projects.
Recently speaking during a webinar organized by the US-Qatar Business Council, the Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum (QP), H E Saad bin Sherida Al Kaabi, had said that Qatar Petroleum was planning greater international upstream expansion and would continue farming-in and acquiring promising exploration blocks around the world with major players.
