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MOSCOW (MRC) -- Qatar Petroleum
announced that it has completed the successful integration of Qatar Chemical and
Petrochemical Marketing and Distribution Company (Muntajat) Q.J.S.C. into Qatar
Petroleum (QP), said Chemweek.
With
this integration, Muntajat will continue to exist as a legal entity, while QP
has been appointed as its Marketing Agent.
This milestone follows QP’s
announcement of June 2020, in which it stressed that the integration will
involve leveraging the combined set of human, technical, commercial, and
financial capabilities of both entities, enabling Muntajat to expand its reach
through QP’s global footprint.
H E Saad Sherida Al-Kaabi, the Minister of
State for Energy Affairs, the President and CEO of Qatar Petroleum, described
the integration as “another successful landmark on the road to achieving our
strategic objectives."
"We look forward to further enhancing Qatar
Petroleum’s capabilities through our combined talent, experience and
capabilities that will eventually benefit our worldwide network of downstream
customers and keep us as the partner of choice providing superior high quality
products and excellence in customer service," Minister added.
This
integration marks another step towards achieving one of Qatar Petroleum’s
strategic objectives of becoming a leader in the global downstream
industry.
As MRC informed earlier,
Qatar Petroleum is pleased to announce the commencement of supply of ultra low
sulfur diesel (ULSD) by the QP Refinery in Mesaieed for the domestic
transportation market, effective from today, bringing all diesel sold in the
country to the highest specifications.
As MRC informed earlier,
in July, the Chevron Phillips joint venture postponed final approval for a USD8
billion Gulf Coast plant, which it planned to approve next year with Qatar
Petroleum.
Ethylene and propylene are feedstocks for producing
polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report,
Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine
months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE)
shipments increased. At the same time, PP shipments to the Russian market
reached 880,130 tonnes in the nine months of 2020 (calculated using the formula:
production minus exports plus imports, exluding producers" inventories as of 1
January, 2020). Supply increased exclusively of PP random copolymer. |
