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FINANCIAL NEWS
Qatar’s MPHC net profit hits USD164m
17 Mar 2014
(MENAFN) Qatar’s Petro-chemical Holding Company (MPHC) said that its net profit in the four-month period ending December 31, 2013 hit USD164.68 million, The Peninsula Qatar reported.
Chief Coordinator at MPHC said: “Net profit for the four-month period to December 31, 2013 was QR0.6bn. This period was marked by relatively stable market conditions and operations – utilization rates remained strong and no major shut-downs were noted.”
He added that profits were also pushed by the supply of competitively-priced ethane feedstock and fuel gas under long-term supply agreements with Qatar Petroleum.
MPHC is a subsidiary of Qatar Petroleum and is partially floated on the Qatar Exchange.
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