Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar- At 40, QP aims bigger as assets soar 85 times  Join our daily free Newsletter

MENAFN - The Peninsula - 06/07/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) The combined assets of Qatar Petroleum (QP) soared by 85 times over the past four decades. The total revenues of QP increased by 40 folds and net profits surged by 300 times during the period, H E Mohamed bin Saleh Al Sada, the Minister of Energy and Industry and Chairman of QP said on Friday



The minister was addressing a gathering attended by ministers, top government officials, diplomats and energy industry captains in Qatar, to mark celebration of the 40th anniversary of the issuance of Emiri Decree July 4, 1974, establishing what was then known as the "Qatar General Petroleum Corporation."



The event was held under the patronage of H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the Prime Minister and Minister of the Interior at Katara. H E Dr Hamad bin Abdulaziz Al Kuwari, the Minister of Culture, Arts and Heritage, H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani, the Minister of Economy and Trade, H E Dr Issa Saad Al Jafali Al Nuaimi, the Minister of Administrative Development,



H E Abdullah Saleh Mubarak Al Khulaifi, the Minister of Labour and Social Affairs, H E Ahmed bin Amer Al Humaidi, the Minister of Environment, and H E Jassim Saif Al Sulaiti, the Minister of Transport, were present



This year also marks the 75th anniversary of the discovery of oil in Qatar". Qatar Petroleum has contributed in building the national economy and forming one of the fastest growing economies in the world, and that the contribution of the oil sector in the GDP last year exceeded 54 percent, Dr Al Sada noted



"Qatar Petroleum has never merely been an oil and gas company, but it has served since its establishment as a factory for building capabilities, as a catalyst for progress and development, and as a partner in all development fields, mainly human development. Therefore, the corporation has always considered Qatari human resources as a true national wealth. It has sought to educate and train Qatari youths and develop their skills, thus enabling them to reach top positions and achieve great success, with many of them now serving as diplomats, army officers, businessmen, high officials and ministers," he said.



Dr Al Sada added: "During the last two decades, Qatar oil production has doubled, and the real value of the North Field was proven by the direct support and guidance of H H the Father Emir. H H the Emir himself has acknowledged the efforts of H H the Father Emir in this respect when he said: "Without such courage, Qatar would not have been able to make all these achievements which have laid the infrastructure of the oil and gas industry.



Today, Qatar is recognised as the world's No. 1 exporter of liquefied natural gas (LNG) with its production capacity of 77 million tons per annum, and it is also known as the global capital of gas-to-liquids (GTL) products.



QP is committed to the continued development of the country's oil and gas industry and its ongoing projects and future ventures are guided by its recently launched corporate vision, which is 'to be a world-class oil and gas corporation, with its roots in Qatar, and a strong international presence


 


The Peninsula




  MENA News Headlines
 Jan 29 2015 - Saudi- Kingdoms economy expected to expand 3.22 this yearArab News
(MENAFN - Arab News) DUBAI: Cheap oil will slow growth in most Gulf Arab economies this year but heavy spending by governments and healthy private sector activity will prevent any serious slump a ...

 Jan 29 2015 - Saudi- Kingdom Holding's Q4 net income up 152Arab News
(MENAFN - Arab News) Kingdom Holding Company (KHC) chaired by Prince Alwaleed bin Talal announced the company's financial results of operations for the fourth quarter and for the 12 months ended Dec. ...

 Jan 29 2015 - Saudi- Tadawul edges down Dubai Qatar stocks fallArab News
(MENAFN - Arab News) DUBAI: Most Gulf equity markets pulled back on Monday as oil prices slipped again and negative fourth-quarter earnings weighed on Saudi Arabia's bourse.Brent crude fell back ...

 Jan 29 2015 - Shell signs $11bn deal to build petrochemicals plant in Iraqi hub BasraGulf Times
(MENAFN - Gulf Times) Royal Dutch Shell has signed a deal with Iraq worth $11bn to build a petrochemicals plant in the southern oil hub of Basra, Industry Minister Nasser al-Esawi said yesterday. ...

 Jan 29 2015 - MoI to discuss the impact of social media on youth in Al Ain CouncilEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) The Ministry of Interior is set to organise its fifth awareness council on Friday at Mohammed Ahmed Al Mahmoud Al Bloushi's majlis in his residence located in ...

 Jan 29 2015 - Kuwait- Diesel, kerosene prices lowered to 110 fils per liter as of Feb.Kuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Kuwait National Petroleum Company (KNPC) has lowered the prices of the liter of diesel and kerosene to 110 fils and announced the new prices would be applied ...

 Jan 29 2015 - Commercial Bank of Dubai records 19 percent increase in net profitEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) Commercial Bank of Dubai's net profit for the year ended 31st December 2014 increased by 19% to AED1,202.3 million as compared to AED1,010.2 million for the ...

 Jan 29 2015 - EP committee welcomes release of children from armed groups in S.SudanKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) The Chair of the European Parliament's Subcommittee on Human Rights, Elena Valenciano, Wednesday welcomed the release of the first group of 280 children out of ...

 Jan 29 2015 - HCT Dubai Paramedic students present Ebola paper at International ConferenceEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM)) A group of Year-4 Bachelor of Applied Science in Emergency Medical Services students, from the HCT-Dubai Colleges, discussed the effects and impact of the Ebola ...

 Jan 29 2015 - Kuwait- "Bon Appetit Exhibition" on healthy food kicks offKuwait News Agency (KUNA)
(MENAFN - Kuwait News Agency (KUNA)) Under the auspices of Minister of Health Dr. Ali Saad Al-Obaidi, the Scientific Center, affiliated with Kuwait Foundation for the Advancement of Sciences, ...

more...


 






Google

Electronic & Mobile Payment

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help