Qatar Petroleum acquires Petroleum Marketing Firm

Qatar Petroleum has completed the integration of Tasweeq into the QP family, according to a company statement.

As part of Qatar Petroleum’s ongoing efforts to become one of the leading National Oil Companies in the world, to deliver superior integrated products and services across the entire oil and gas value chain, QP is pleased to announce the integration of Tasweeq into the QP family.

The integration will involve transitioning Tasweeq’s employees, assets and customer relationships into the QP organization before the end of the year.

The integration of Tasweeq will enable QP 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 & 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 that “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.“ Source: Pipeline Mag.