The State of Qatar declared the establishment of a new Qatari gas and petroleum joint stock company, reported Al-Hayat . The Qatar Fuel Company’s capital stands at 150 million Qatari Rials ($41.2 million) divided into 15 million stocks at QR 10 per stock book value. The Qatari Minister of Energy and Industry, Abdullah Al-Attiya, said that this is a major privatization step, not only in Qatar but also in the region, where the private sector is able to invest in petroleum and gas product marketing and distribution. The Qatar Fuel Company is planning to set up 32 fuel stations in Qatar over the next seven years. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
