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FINANCIAL NEWS
Qatar Petroleum aims global projects in Cyprus, Morocco
07 Feb 2017
(MENAFN) Qatar Petroleum (QP) is aiming oil and gas in Morocco and Cyprus as it plans to increase its LNG assets abroad while trimming costs at home.
Meanwhile, the firm has been pursuing deals in Cyprus, where it won an offer for 40 percent of a plot for exploration and went into Morocco for exploration.
Recently, Qatar Petroleum is cutting costs as its local operations and looking to expand overseas amid mutual ventures with global oil firms.
Moreover, Qatar shipped 76.4mn tons of LNG in 2014, or 32 percent of global supply, while QP received U.S. regulatory approval to build USD10bn LNG plant with Exxon Mobil.
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MENAFN0702201700450000ID1095240896
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