Qatar Petchems To Benefit From QP’s Upstream Ambition

CEO Saad al-Kaabi’s restructuring of QP is turning to the petrochemicals sector. The firm has now consolidated ownership of the Seef petchems firm as it gears up for work on a “world scale” ethane cracker. Is more consolidation on the cards?

Qatar Petroleum announced on 31 December that it had acquired United Development Company’s (UDC) 20% interest in the Seef petchems firm. Following the transaction, Seef is now wholly-owned by the state firm.

Seef’s linear alkyl benzene (LAB) plant is located in the country’s south eastern Mesaieed industrial hub alongside the 137,000 b/d QP refinery which consists of an 80,000 b/d crude processing unit and a 57,000 b/d condensate splitter. Commercial operations began in March 2006.

The QP refinery provides the 100,000 b/d LAB plant with its kerosene feedstock. QP says the buyout of UDC “highlights Qatar Petroleum’s pursuit of its strategy of consolidating its operations, as well as UDC’s strategy of exiting non-core business.” (CONTINUED - 788 WORDS)

DATA INSIDE THIS ARTICLE

table Qatar Petchems Capacity