FINANCIAL NEWS

Qatar Petroleum aims to dominate export marketing business

27 Jun 2016

(MENAFN) Qatar’s petroleum products marketing company will be unified within Qatar Petroleum (QP) by the end of this year as the country lowers costs at state-owned enterprises.

Consequently, the move will absorb Qatar International Petroleum Marketing Co, known as Tasweeq, and will maximize value for QP in an ever more competitive market environment.

The rich-gas Gulf country is currently facing a rising rivalry from other liquefied natural gas (LNG) producers as new projects in the US and Australia come online within the next few years.

“Qatar Petroleum said the integration of Tasweeq, which was set up in 2007 to market Qatar’s regulated petroleum products to commercial customers abroad,” CEO of QP said.

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