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2015-05-18 18:10:00

QATAR: NO $100

QATAR: NO $100

May 17 State-owned Qatar Petroleum will announce a restructuring plan in the coming months to adapt to the drop in oil prices, the head of its wholly owned international subsidiary said.

"The restructure comes at the right time, with low oil prices a great motivation for the institution to be more capable of facing challenges in the upcoming years by getting rid of all burdens that accumulated during the previous period," Qatar Petroleum International (QPI) Chief Executive Officer Nasser Khalil Al-Jaidah told state news agency QNA.

Earlier this year, QP said it would absorb QPI into its structure, a move suggesting authorities want to consolidate the industry after the price drop.

Al-Jaidah said demand for OPEC oil is likely to improve, as prices below $100 will hinder the growth of shale oil.

"The coming period will witness an improvement in prices but they will not reach $100," he said.

On Friday, U.S. crude settled down 19 cents at $59.69 a barrel, after falling more than $1 during the session. Brent , the more important oil benchmark, settled up 11 cents at $66.81, down from more than $115 in June last year.

Al-Jaidah said QPI's international projects were currently being evaluated in terms of geopolitics, prices and "current challenges", giving no further details.

QPI was formed in 2007 as the foreign investment arm of the firm. Over the last few years, it has created 10 joint ventures in the United States, Britain, Italy, Singapore, Egypt and elsewhere, though it has not disclosed a figure for its total assets.

reuters.com

Tags: QATAR, QPI, OIL, PRICES

Chronicle:

QATAR: NO $100
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

QATAR: NO $100
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

QATAR: NO $100
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

QATAR: NO $100
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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