Qatar Petroleum announces raising foreign and shareholder ownership limits in energy sector companies and listed subsidiaries

  
Qatar Petroleum announces raising foreign and shareholder ownership limits in energy sector companies and listed subsidiaries

Doha, Qatar - Qatar Petroleum has announced raising the non-Qatari ownership limit in the energy sector companies and in its subsidiaries listed on the Qatar stock Exchange to 49%, and raising the shareholder ownership limits in these companies to no more than 2%. Qatar Petroleum has also asked the concerned companies to take the necessary measures and steps to implement this decision.

Hence, Qatar Electricity and Water Company, WOQOD, Gulf International Services Company and Mesaieed Petrochemical Holding Company will take the necessary steps within the coming weeks to approve the increase in the foreign ownership limit to 49% in accordance with the applicable regulations and procedures.

WOQOD will increase the shareholder ownership limit to 1%, while Gulf International Services and Mesaieed Petrochemical Holding Company will increase this limit to 2%.

Mr. Saad Sherida Al-Kaabi, the president & CEO of Qatar Petroleum, said “The decision to raise the non-Qatari ownership limit in the energy sector companies and in its subsidiaries listed on the Qatar stock Exchange comes amidst the growing strength of the national economy, in which Qatar's energy industry plays a major role.”

Mr. Al-Kaabi added: “We believe this decision will give more strength to Qatar Stock Exchange, and will contribute to its development to be a leading regional financial center and an attractive financial destination to local and global investments."

Industries Qatar has recently increased its foreign ownership limit to 49% in line with Qatar Petroleum directives.

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, refining, production, 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 in Qatar and beyond.

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

© Press Release 2018

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