DOHA, Qatar  – Qatar Petroleum (QP) announces that all crude oil produced in the State of Qatar for export to international markets has been designated by a ministerial directive as a Regulated Product effective 1 January 2018.

Consequently, Qatar Petroleum, as the marketing agent for ‘Qatar Petroleum for the Sale of Petroleum Products Company Limited’ (QPSPP), will be the exclusive entity to market and sell all crude oil exported from Qatar.

Previously, QP and the various International oil companies active in the production of crude oil in the State of Qatar were independently marketing crude oil based on their production entitlements. Going forward, QP becomes the single interface with the international markets for all marketing and sales related activities.

Mr. Saad Sherida Al-Kaabi, QP President and CEO, described the announcement as a further step towards realizing its vision to become one of the best national oil companies in the world, with roots in Qatar and a strong international presence.

Mr. Al-Kaabi said “the regulation of crude oil exports is expected to deliver significant synergies in marketing and logistics, as well as cost efficiencies to the benefit of the State of Qatar and the crude oil producing entities. It will also further strengthen Qatar Petroleum's international marketing ability and expand its global footprint.”

The President & CEO concluded his remarks by saying “this is an important milestone in support of the continued and sustained growth and development of our national economy.”

QPSPP, formerly known as, Qatar International Petroleum Marketing Company Limited’ (previously known as Tasweeq), was established pursuant to Decree Law No. (15) of 2007 concerning the Organization of Marketing and Selling of Regulated Products Outside the State of Qatar, and is wholly-owned by the State of Qatar.

Qatar Petroleum was appointed by the State of Qatar, pursuant to Law No. (9) of 2016, as QPSPP's Marketing Agent in order to leverage the combined set of technical, commercial and financial capabilities and to achieve cost efficiency through the harvesting of synergies.

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About Qatar Petroleum
Qatar Petroleum is an integrated national oil corporation responsible for the sustainable development of the oil and gas industry in the State of Qatar and beyond.

Qatar Petroleum’s activities encompass the entire spectrum of the oil and gas value chain locally, regionally, and internationally, and include the exploration, production, processing, marketing and sales of oil and gas, liquefied natural gas (LNG), natural gas liquids (NGL), gas to liquids (GTL) products, refined products, petrochemicals, fertilizers, steel and aluminum.

Qatar Petroleum is committed to contribute to a better future by meeting today’s economic needs, while safeguarding our environment and resources for generations to come. Thriving on innovation and excellence, Qatar Petroleum is bound to the highest levels of sustainable human, socio-economic, and environmental development.

For more information, please visit www.qp.com.qa

© Press Release 2018