Tuesday, 30 November 2021 06:46 GMT

Qatar Petroleum to increase FOL in energy companies to 49 percent


(MENAFN) Qatar Petroleum was declared to be reaching 49 percent in its non-Qatari ownership limit in the energy sector firms as well as in its subsidiaries on the Qatar stock Exchange.

It also announced its plan to increase the shareholder ownership limits in the companies up to 2 percent.

QP has further sent a recommendation to the companies to implement needed measures and procedures for the plan to be put in effect.

"The decision to raise the non-Qatari ownership limit in the energy sector companies and in its subsidiaries listed on the Qatar stock Exchange comes amidst the growing strength of the national economy, in which Qatar's energy industry plays a major role," QP's President and CEO Saad Sherida Al Kaabi stated.

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