40 AND GO­ING STRONG

Qatar Today - - BUSINESS > OIL & GAS -

“The com­bined as­sets of Qatar Pe­tro­leum (QP) soared by 85 times over the past four decades. The to­tal rev­enues of QP in­creased by 40 folds and net prof­its surged by 300 times dur­ing the pe­riod,” says HE Dr Mo­hamed bin Saleh Al Sada, the Min­is­ter of En­ergy and In­dus­try and Chair­man of QP, while ad­dress­ing a gath­er­ing at­tended by min­is­ters, top govern­ment officials, diplo­mats and en­ergy in­dus­try cap­tains in Qatar, to mark the cel­e­bra­tion of the 40th an­niver­sary of the is­suance of Emiri De­cree July 4, 1974, es­tab­lish­ing what was then known as the “Qatar Gen­eral Pe­tro­leum Cor­po­ra­tion.”

“This year also marks the 75th an­niver­sary of the dis­cov­ery of oil in Qatar. Qatar Pe­tro­leum has con­trib­uted in build­ing the na­tional econ­omy and form­ing one of the fastest grow­ing economies in the world, and that the con­tri­bu­tion of the oil sec­tor in the GDP last year ex­ceeded 54%,” Dr Al Sada noted.

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