Doha, Qatar – Qatar Petroleum announced the decision of integrating the activities of QVC into QAPCO to strengthen their global competitive positions.
The integration has not resulted in any change to the shareholder ownership but allows the realization of synergies through creating a single entity that operates the assets on behalf of both companies’ shareholders.
This successful integration is another testament to the commitment to increasing the efficiency, effectiveness, and competitiveness of all our operations. The combined distinctive resources and capabilities of the three companies will further enhance the value for our customers as well as for the companies’ respective shareholders.”
QAPCO delivered higher performance through the sharing of leadership, talent, resources and capabilities, realizing significant synergies across multiple business and functional areas. We have pooled together the distinctive resources, talents and capabilities of QAPCO and QVC to create a world-class petrochemical operator in size, service and reliability.
This integration aims to reduce operating costs and improve the profitability of both companies to enhance their competitiveness and financial performance.