(MENAFN- The Peninsula) Saad Sherida Al Kaabi (pictured), President & CEO of Qatar Petroleum (QP) said yesterday that QP will be conducting feasibility studies to assess utilising the available ethane feedstock after the decision not to go ahead with the Al Karaana Petrochemicals Project.
The studies will be carried out by QP in cooperation with Qatar Petrochemical Company (Qapco), Qatar Chemical Company (Q-Chem) and RasLaffan Olefins Company (RLOC), with the aim to expand and further develop the petrochemical plants under Industries Qatar (IQ) and Mesaieed Petrochemical Holding Company (MPHC).
This significant step was driven by QP's efforts to achieve the best utilisation of Qatar's natural resources, particularly in the petrochemical sector and in a manner that supports local industries, and maximizes its contribution to the national economy.
Based on the results of the studies, the best option will be selected in a manner that ensures that maximum economic benefits to the State and to all shareholders in these companies in the long term.
Al Kaabi stressed that this approach will also maximise the benefit from available synergies by utilizing the existing facilities and infrastructure in this sector, and will significantly reduce capital and operational costs.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.