Qatar Petroleum has finally completed the successful merger of Qatari Chemical and Petrochemical Marketing and Distribution Company, Muntajat, into its downstream capabilities, according to a press release.
This strategic merger will signify that Muntajat will continue to exist as a legal entity, while Qatar Petroleum has been appointed as its Marketing Agent.
Al-Kaabi added, CEO of Qatar Petroleum, said, “We look forward to further enhancing Qatar Petroleum’s capabilities through our combined talent, experience and capabilities that will eventually benefit our worldwide network of downstream customers and keep us as the partner of choice providing superior high-quality products and excellence in customer service.”
The deal was originally announced in June but successful integration has only just been realized now on November 15.
This merger marks yet another step towards achieving Qatar Petroleum’s strategic objective of becoming a leader in the global downstream industry.