(MENAFN - The Peninsula) The combined assets of #Qatar
Petroleum (QP) soared by 85 times over the past four decades. The total revenues of QP increased by 40 folds and net profits surged by 300 times during the period, H E Mohamed bin Saleh Al Sada, the Minister of Energy and Industry and Chairman of QP said on Friday
The minister was addressing a gathering attended by ministers, top government officials, diplomats and energy industry captains in Qatar, to mark celebration of the 40th anniversary of the issuance of Emiri Decree July 4, 1974, establishing what was then known as the "Qatar General Petroleum Corporation."
The event was held under the patronage of H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the Prime Minister and Minister of the Interior at Katara. H E Dr Hamad bin Abdulaziz Al Kuwari, the Minister of Culture, Arts and Heritage, H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani, the Minister of #Economy
and Trade, H E Dr Issa Saad Al Jafali Al Nuaimi, the Minister of Administrative Development,
H E Abdullah Saleh Mubarak Al Khulaifi, the Minister of Labour and Social Affairs, H E Ahmed bin Amer Al Humaidi, the Minister of Environment, and H E Jassim Saif Al Sulaiti, the Minister of Transport, were present
This year also marks the 75th anniversary of the discovery of oil in Qatar". #Qatar
Petroleum has contributed in building the national economy and forming one of the fastest growing economies in the world, and that the contribution of the oil sector in the GDP last year exceeded 54 percent, Dr Al Sada noted