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FINANCIAL NEWS
Qatar plans major boost in LPG production
05 May 2010
(MENAFN) The Chief Executive Officer at the Qatar International Petroleum Marketing Co. (Tasweeq) said that Qatar will produce 12.6 million tons per year (tpy) of liquefied petroleum gas (LPG) by 2012, up from 8.2 million tpy now, QNA reported.
The CEO said in a statement that Qatar also now exports 90 percent of its condensate production, oil products such naphtha, gasoline and gas oil, as well as LPG to Asia.
He said naphtha will have the fastest growth rate among oil products, driven by demand for gasoline during the US peak driving season and current strong petrochemical margins due to robust Chinese demand for polymers.
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