The oil company plans to merge two petrochemical companies in the near future

Huitong Network2month27Daily News - Monday(2month27day)According to a report by Huitong Network, Qatar Petroleum Company, as the world's fourth largest oil and gas producer, plans to merge two petrochemical companies in the near future in order to seek cost reduction in domestic business and expansion of international business.

Sunday(2month26day)Qatar Petroleum Corporation stated in an email that it will merge part of its operations, including Qatar Vinyl Company and Maisaide Petrochemical Holdings Limited, into Qatar Petrochemical Corporation and merge it as Vodafone Qatar CompanyQ.S.C.A subsidiary of.FX678Quoting data compiled by Bloomberg, Qatar Oil Company ownsMesaieedport74.2%Shares, as well as Qatar Industrial Corporation(Industries Qatar)51%The shares; And both companies are already listed on the Qatar Stock Exchange.

"Oil tycoons" are also tightening their belts to survive, and Qatar Oil is merging two subsidiaries

Saad, CEO of Qatar Liquefied Petroleum Company(Saad Sherida Al Kaabi)In the statement, it was stated that corporate shareholders will directly benefit from this integration, as it will reduce operating costs and improve the profitability of the two companies. Qatar Oil Company stated that these two companies will3The merger of businesses will begin in the month and will be completed within this year through service agreement arrangements.

This year, Qatar Oil Company(The world's largest producer of liquefied natural gas)It also merged two major liquefied natural gas subsidiaries, namely Qatar Liquefied Gas Company and Rasrafan Liquefied Natural Gas Limited. In earlier restructuring efforts, Qatar Oil Company2015Thousands of workers were laid off in the year and foreign investment management was carried out.

Qatar sees company mergers as a tool and form of cost reduction, as oil prices rise from2014An avalanche like decline has already begun in the middle of the year. Insiders5Yue stated that at least four companies have already merged and possess3350The Qatar Investment Authority of a billion dollar sovereign wealth fund will invest local enterprises1000A fundraising of billions of dollars to build a new enterprise.12Month, Qatar3InterbankMasraf?Al?Rayan、Barwa BankandInternational Bank of QataWe are building the largest Islamic bank in the country.
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