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FINANCIAL NEWS
Qatar Petroleum to undertake restructuring plan to leave non-core businesses
24 Jun 2015
(MENAFN) Qatar Petroleum, the oil and gas giant, is ready to undertake a restructuring strategy, through which it’s going to cut its staff and leave all of its non-core businesses, according to the company’s chief executive, Reuters reported.
The decision was made after the significant decrease in oil and gas prices last year, which tremendously affected the company. The chief executive refused to disclose the actual number of the cuts, but insisted that no Qatari citizens will get sacked.
“While we have no control over markets and prices, we do have control over our costs and expenditure. This will be a stable organisation going forward,” he added.
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