PHOTO
23 August 2016
DOHA: Emir H H Sheikh Tamim bin Hamad Al Thani yesterday issued Law No. 9 of 2016 for setting up a Qatari shareholding company for selling petroleum products in the international market.
According to the law, a Qatari shareholding company, wholly owned by Qatar, will be established, represented by Qatar Petroleum.
The company, with the name "Qatar Petroleum for selling petroleum products" LLTD, will sell petroleum products that fall under government regulation and specified in the law.
The Cabinet earlier endorsed the draft law amending some provisions of Decree No. 15 of 2007 on the regulation of the marketing and sale outside Qatar of products under government regulation, and referred it to the Advisory Council.
The law stipulates that the new company will perform as a commercial entity "with the right of ownership of government-regulated products to market and sell them in Qatar and outside on its name".
The law indicates that the company will delegate Qatar Petroleum as a representative to market and sell government-regulated products on its behalf.
All the concerned are obliged to enforce the law the next day of its publication in the Official Gazette.
The Emir also issued Decision No. 8 of 2016 regulating marine surveying.
The law includes 32 articles regulating marine surveying under the Ministry of Transport and Communication.
All surveying vessels must obtain a licence, must be equipped with necessary devices and pass a technical test, according to the law.
DOHA: Emir H H Sheikh Tamim bin Hamad Al Thani yesterday issued Law No. 9 of 2016 for setting up a Qatari shareholding company for selling petroleum products in the international market.
According to the law, a Qatari shareholding company, wholly owned by Qatar, will be established, represented by Qatar Petroleum.
The company, with the name "Qatar Petroleum for selling petroleum products" LLTD, will sell petroleum products that fall under government regulation and specified in the law.
The Cabinet earlier endorsed the draft law amending some provisions of Decree No. 15 of 2007 on the regulation of the marketing and sale outside Qatar of products under government regulation, and referred it to the Advisory Council.
The law stipulates that the new company will perform as a commercial entity "with the right of ownership of government-regulated products to market and sell them in Qatar and outside on its name".
The law indicates that the company will delegate Qatar Petroleum as a representative to market and sell government-regulated products on its behalf.
All the concerned are obliged to enforce the law the next day of its publication in the Official Gazette.
The Emir also issued Decision No. 8 of 2016 regulating marine surveying.
The law includes 32 articles regulating marine surveying under the Ministry of Transport and Communication.
All surveying vessels must obtain a licence, must be equipped with necessary devices and pass a technical test, according to the law.
© The Peninsula 2016
