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
 Oct 4 2015 - UAE says to invest $35 bln in clean energy by 2021AFP
(MENAFN - AFP) The gas-rich United Arab Emirates will invest $35 billion in clean energy by 2021 as it seeks to reduce its dependence on fossil fuels following crude's global price slide, it said ...

 Oct 4 2015 - Qatar's Central Bank governor cuts hopes of rate hikeMENAFN
(MENAFN) Qatar's central bank governor sought to cut expectations for rising interest rates after a jump in local bill yields suggested liquidity in the Qatari banking system was beginning to ...

 Oct 4 2015 - Jordan- UAE delegation visits the Mrajeeb Al Fhood campJordan News Agency
(MENAFN - Jordan News Agency) A delegation from the UAE Ministry of Development and International Cooperation visited on Friday the Mrajeeb Al Fhood camp for Syrian refugees to check on services ...

 Oct 4 2015 - Russian airstrikes in Syria will strengthen Daesh, ObamaJordan News Agency
(MENAFN - Jordan News Agency) US President Barack Obama said on Friday that Russia's airstrikes in Syrian that started last Wednesday, will ultimately empower Daesh terrorist group.Speaking from the ...

 Oct 4 2015 - Jordan- Border guards receive 209 new Syrian refugeesJordan News Agency
(MENAFN - Jordan News Agency) A total of 209 Syrian refugees from various age groups, entered the Kingdom through various crossing points during the last 72 hours, according to a military source on ...

 Oct 4 2015 - Israeli forces kill Palestinian young man in JerusalemJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation forces Sunday morning shot dead a Palestinian teen near Damascus Gate in occupied Jerusalem.Eyewitnesses said that Israeli forces opened fired on 19 ...

 Oct 4 2015 - Israel prevents Palestinians from entering JerusalemJordan News Agency
(MENAFN - Jordan News Agency) Israeli occupation police on Sunday banned Palestinians from entering the old city in East Jerusalem for two days, after two attacks against Israelis occurred in less ...

 Oct 4 2015 - First Gulf offers start-up financeThe Arabian Post
(MENAFN - The Arabian Post) FGB claims to be the first bank in the UAE to offer a one-stop financing solution to start-ups. The bank's new 'Startup Proposition' offers new businesses a range of ...

 Oct 4 2015 - Dubai Holding net up 24% to AED2.6bThe Arabian Post
(MENAFN - The Arabian Post) Dubai Holding Commercial Operations Group (DHCOG) announced a net profit of AED 2.6 billion for the first half of this year ending 30th June 2015, an increase of 24 ...

 Oct 4 2015 - Qatar to improve rank in Competitiveness Index-QBAThe Peninsula
(MENAFN - The Peninsula) Sheikh Faisal bin Qassim Al Thani, the Chairman of the Qatari Businessmen Association (QBA) in press conference said that Qatar's economy is moving in the right direction and ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

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


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


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