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Volume 41 Issue 7
7
OAPEC Member Countries
Iraq
Qatar
Iraq’s Oil Minister HE Adel Abdul Mahdi said that his country
managed to break its own records with regards to oil sales for the
fifth consecutive month. Iraq’s production surged to a record of
3.187 million barrels a day last June. This helped Iraq restore and
compensate for the drop of its oil exports from Kurdistan. The
Minister hailed the efforts of the oil sector staff working in Iraq
in spite of the security developments in the country, which caused
damage to many petroleum installations by terrorist groups. HE
Abdul Mahdi explained that the Ministry has been working so hard
to resolve obstacles facing the Iraqi oil industry with the big support
of the Iraqi Presidency and other official bodies.
The Minister also said that launching Basra Heavy along with
Basra Light has contributed to the increase of Iraqi oil sales, as well
as, resolving various financial and administrative disputes with
foreign oil companies working in Iraq.
HE Adel Abdul Mahdi
Iraq’s oil sales surging to a record
Qatar
Petroleum
Chief
Executive Officer Engineer Saad
Sherida Al Kaabi announced that
Qatar Petroleum has completed
its restructuring programme
that started by the end of last
year. The restructuring included
a new organisational structure
aiming at realising integration
between QP and Qatar Petroleum
International, which resulted in having
one entity that is Qatar Petroleum to be in
charge of oil and gas activities both inside
and outside Qatar.
Al Kaabi said current developments in
the global oil markets made it imperative
for QP to be highly efficient;
explaining that pioneering firms,
like QP, usually review their
requirements based on business
needs and will make their own
decisions on restructuring in
light of the changing competition
in order to achieve their new
strategic goals.
He added that Qatar
Intermediate Industries Ltd has been
liquefied according to the restructuring
plan. All its projects will be allocated to
the private sector. Al Kaabi stressed that
QP has no intentions to compete with the
private sector companies.
Qatar Petroleum Restructuring Completed