Qatar Petroleum takes 20% in petrochemicals firm

DOHA, January 2, 2019 – Qatar Petroleum (QP) has acquired the remaining 20% in petrochemicals producer SEEF, the Qatari NOC announced in a press release on Monday.

QP acquired the shares from United Development Company, which has undertaken to divest its non-core businesses.

The deal leaves QP with a 100% share in the business.

“We believe that this will help us achieve greater synergy value and boost our efforts to enhance and consolidate our operations,” QP CEO and Minister of State for Energy Affairs Saad Sherida Al Kaabi said in the press release.