Qatar Restructures Board of State Energy Firm

Qatar Restructures Board of State Energy Firm

Qatar has restructured the board of its state energy firm Qatar Petroleum as a part of a large scale corporate and government reshuffle that included the cabinet, the Qatar National Bank and the Qatar Investment Authority, Reuters reported.

The Chief Executive of Qatar Petroleum Saad al-Kaabi was named Minister of State for Energy Affairs in addition to his current position on the board of the Qatar Investment Authority.

Replacing him chairman of Qatar Petroleum is Sheikh Abdullah bin Hamad al-Thani, 30-year-old brother of the emir.

The cabinet reshuffle also saw Qatar National Bank (QNB) CEO Ali Ahmed al-Kuwari take up a point in a new combined commerce and industry ministry, however it is not clear whether he will retain his post at QNB.

Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani was also named the new chairman of the Qatar Investment Authority.

It was the first government reshuffle since the start of Gulf states’ economic and diplomatic blockade against Qatar in early 2016, but diplomats and analysts do not see it as a shift of power.

“The cabinet shuffle was expected to come earlier, but was apparently on hold as the country dealt with the blockade and now as the ramifications have been successfully dealt with it was time,” said Majed al-Ansari, an analyst and professor of political sociology at Qatar University.

“It does not signal a change in policy or power shift in the government,” he said.


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