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2016-11-02 18:35:00

QATAR & EXXON PROJECT

QATAR & EXXON PROJECT

TOGY wrote, Qatar Petroleum (QP) announced on Monday a joint venture with ExxonMobil called Ocean LNG, tasked with marketing LNG sourced outside the GCC country.

QP will own a 70% stake in the project, with ExxonMobil holding the remaining 30%, according to a QP press release.

"QP aspires to be one of the leading energy companies in the world, and LNG forms one of the cornerstones of these aspirations," said QP CEO Saad Sherida Al Kaabi in the statement. "As such, it is crucial for us to establish a global LNG marketing arm that will be instrumental in monetising opportunities that Qatar Petroleum will be pursuing and capturing outside Qatar."

In recent months, Qatar has been seeking to optimise state-owned businesses in order to meet the challenges presented by low oil and gas prices and to gain an edge over potential LNG competitors, including firms drilling in the US and Australia.

In June, QP announced that it would integrate the Qatar International Petroleum Marketing Company, better known as Tasweeq, in order to improve the company's cost-effectiveness. The absorption process is still in progress.

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Earlier:

QATAR: 

LNG TO INDIA: UP 35% 

QATAR'S RATINGS "AA" 

QATAR LNG UP 50% 

INDIA & QATAR NEGOTIATIONS 

LNG: BIGGER NO BETTER

 

EXXON: 

EXXON NET INCOME $6.16 BLN 

EXXON DOESN'T SEE 

EXXON FINED $75 BLN 

MAJORS DEBT'S RECORD 

EXXON NET INCOME $3.5 BLN

 

 

 

Tags: QATAR, PETROLEUM, EXXON,

Chronicle:

QATAR & EXXON PROJECT
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CHINA'S INVESTMENT FOR NIGERIA: $14+3 BLN

AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.

QATAR & EXXON PROJECT
2018, July, 16, 10:30:00

LIBYA'S OIL DOWN 160 TBD

REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.

QATAR & EXXON PROJECT
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

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QATAR & EXXON PROJECT
2018, July, 16, 10:20:00

NIGERIA'S GDP UP 2%

IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.

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