Qatar Petroleum (QP) has managed to double its net profit 300 times over four decades, said HE Minister of Energy and Industry HE Dr. Mohammed bin Saleh Al Sade, who is also Board Chairman of Qatar Petroleum (QP) .
HE Dr. Al Sada was speaking at a ceremony held under the patronage of HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, on the occasion of the 40th anniversary of Qatar Petroleum.
Qatar Petroleum (QP) has been able to make a number of achievements over the past decades in various walks of life, said HE Dr. Al Sada adding that "these efforts have led to a doubling of the total consolidated assets of Qatar Petroleum over the past forty years, 85 times .. and total revenues of more than 40 times .. while net profit doubled more than 300 times. " He stressed that "Qatar Petroleum has contributed to the development of the national economy and to the formation of one of the fastest growing economies in the world,". The oil sector's contribution to GDP of the State of Qatar last year amounted to more than 54%, HE Dr.Al Sada noted.
HE Dr. Al Sada lauded the long and bright history of Qatar Petroleum, which was established under the Emiri Decree No. 10 dated July 4, 1974, where it has occupied the 14th place among the global oil and gas companies.