DOHA, 26th June, 2016 (WAM) — Qatar Petroleum, QP, the state owned petroleum company in Qatar, has announced the integration of Qatar International Petroleum Marketing Company Ltd., Tasweeq, into the QP family, which will involve transitioning Tasweeq’s employees, assets and customer relationships into the QP organisation before the end of the year.
According to a statement from QP, the integration of Tasweeq will enable the company to deliver superior products and services by leveraging a combined set of technical, commercial and financial capabilities and provide more integrated and attractive value propositions to its international customers and partners, while ensuring high effectiveness and efficiency in the use and deployment of the integrated group’s human and financial resources.
Saad Sherida al-Kaabi, President and CEO of Qatar Petroleum, said, “The integration of Tasweeq into QP will unquestionably help us to enhance our ability to offer superior integrated products and services in an ever more competitive and demanding market environment. It will also help us maximise greater value for QP and the State of Qatar across the entire oil and gas value chain.”
During the transition period, Tasweeq’s management and employees will continue to manage Tasweeq’s day-to-day operations and remain the key focal points for all Tasweeq’s customers, partners and suppliers.
Al-Kaabi added, “QP looks forward with enthusiasm, confidence and a great sense of responsibility to deliver on its ambition to become one of the best integrated national oil companies in the world and, with Tasweeq, it is confident that this integration represents another key milestone that will help QP further enhance its competitiveness and distinctiveness.”