QP Official Reveals Plans to Invest Abroad

Doha, April 24 (QNA) - Qatar Petroleum is planning to invest abroad in Europe, China, the United States and Canada, the company's Accounting Department Manager Mohammed Al Ghanem said on the sidelines of the 8th World Chambers Congress, which launched Tuesday in Doha. Taking part in the business leaders' session on Wednesday, Al Ghanem said Qatar Petroleum International (QPI) has recently signed a number of investment agreements in the hydrocarbon field abroad. In this regard, he pointed to the agreement between QPI and the British utility firm of Centrica to jointly acquire C$1b-worth of Suncor Energy's natural-gas and oil assets in Canada. Al Ghanem said QP's vision is to secure the maximum possible benefit from Qatar's carbon sources by engaging in any transaction that will add value to them. He noted that the company's products include oil, gas, refining products, condensers, liquefied petroleum gas, liquefied natural gas, gas-to-liquids products and petrochemical products. He added that Qatar Petroleum has been able to forge partnerships with companies with a long tradition in the energy field, including ConocoPhillips, Chevron, Total, Shell and Exxon Mobil. The company's role is not just to produce oil and gas, he said, adding that it builds several service organizations such as schools, health centers and health clubs. Founded in 1974, QP is a state-owned corporation responsible for all phases of the oil and gas industry in Qatar. The principal activities of QP and its subsidiaries and joint ventures cover exploration, drilling and production operations, transport, storage, marketing and sale of crude oil, natural gas liquids, liquefied natural gas, gas-to-liquids, refined products, petrochemicals and fertilizers, and helicopter and financial services. (QNA)