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2018-01-04 12:25:00

QATARGAS & RASGAS MERGER

QATARGAS & RASGAS MERGER

TOGYThe merger of the world's largest LNG producers, Qatargas and RasGas, is complete, and the new entity, called Qatargas, has started operations, parent company Qatar Petroleum (QP) announced on Wednesday.

Qatargas will now be in charge of Qatar's entire LNG output.

"Our aim was to integrate the two companies' resources and capabilities to create a truly unique global energy operator in terms of size, service and reliability," QP CEO Saad Al Kaabi said in a statement. "It is important to highlight that this integration will ultimately save us around QAR 2 billion [USD 548 million] in operating cost annually."

The merger, which closed on January 1, was first announced in December 2016.

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Earlier:

 QATAR - BANGLADESH LNG
2017, September, 27, 13:30:00

QATAR - BANGLADESH LNG

RasGas Company Limited sealed a landmark 15-yr LNG Sales and Purchase Agreement (SPA) with Bangladesh Oil, Gas and Mineral Corporation (Petrobangla). The agreement was signed in Doha by Mr. Hamad Mubarak Al-Muhannadi, CEO of RasGas, and Mr. Abdul Mansur Md Faizullah, Petrobangla Chairman.

 

 QATAR - TURKEY LNG
2017, September, 22, 08:35:00

QATAR - TURKEY LNG

Qatargas has agreed to sell 1.5 million tpy of LNG to Turkey’s BOTAŞ Petroleum Pipeline Corporation (BOTAŞ) over a period of three years

 

 QATAR SHOW  STRENGTH
2017, July, 5, 12:15:00

QATAR SHOW STRENGTH

Qatar mounted what appeared to be a show of strength on Tuesday, when the state-owned Qatar Petroleum announced plans to raise liquefied natural gas capacity by 30 percent. Its immediate effect will be to worsen a glut on the LNG market where Australia, the United States and Russia vie.

 

 RUSSIA - QATAR COMPETITION
2017, June, 24, 09:45:00

RUSSIA - QATAR COMPETITION

Qatar and Russia have long been rivals in global gas markets. Qatar's supplies came under the spotlight in the past month after Saudi Arabia cut economic and diplomatic ties, in a move ratcheting up a wider violent and diplomatic conflict in the Middle East.

 

 QATAR WILLING TO SPEAK
2017, June, 7, 18:00:00

QATAR WILLING TO SPEAK

"We are willing to sit and talk," Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman al-Thani told CNN late on Tuesday. He said his country was "protecting the world from potential terrorists".

 

 QATAR - JAPAN LNG TALKS
2017, May, 31, 17:35:00

QATAR - JAPAN LNG TALKS

Qatar faces rising competition from a tide of new LNG from sources including Australia, which is expected to surpass it as the world's top exporter by 2019.

QATAR'S GDP UP TO 2.7%
2017, April, 12, 18:40:00

QATAR'S GDP UP TO 2.7%

Lower hydrocarbon prices have adversely impacted macroeconomic performance. Growth has slowed despite still resilient non-hydrocarbon activity. Real GDP growth of 2.7 percent is estimated for 2016. Inflation remained low despite subsidy cuts, averaging about 2.7 percent in 2016.

Tags: QATARGAS, RASGAS, GAS, LNG

Chronicle:

QATARGAS & RASGAS MERGER
2018, July, 16, 10:35:00

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.

QATARGAS & RASGAS MERGER
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.

QATARGAS & RASGAS MERGER
2018, July, 16, 10:25:00

BAHRAIN'S GDP UP 3.2%

IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.

QATARGAS & RASGAS MERGER
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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