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Qatar Petroleum completes integration of Muntajat

November 25/2020

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 QPs 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 QPs 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 Petroleums 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 Petroleums 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.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, neftegaz, petrochemistry, Qatar chemical, Qatar Petrochemical.
Category:General News
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