QP Seals Naphtha Deals with Japan's Marubeni
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Al khaliji prices $500 mn www.facebook.com/QatarTribune bond under its EMTN www.youtube.com/QatarTribuneChannel programme www.twitter.com/Qatar_Tribune PAGE 14 THURSDAY, OCTOBER 4, 2018 DOW26,823.69 QE 9,889.47 SENSEX 35,975.63 GOLD 1,202.30 ‘Qatari-Malaysian trade ties to boost +49.75 PTS +72.40 PTS -550.59 PTS -0.39% businesses’ PAGE 16 PRICE PERCENTAGE PRICE PERCENTAGE 14.66 BRENT 86.15 +1.35% WTI 76.34 +1.18% SILVER -0.22% QP seals naphtha deals CB aims to open nine branches at with Japan’s Marubeni Doha Metro stations SATYENDRA PATHAK KAABI MEETS JAPAN FOREIGN MINISTER DOHA COMMERCIAL Bank (CB) We have recently bought a is aiming at opening seven new head office worth $50 to nine branches at the up- coming Doha Metro sta- million in Istanbul. We will tions, a senior official of the be formally opening it in bank has said. November this year Talking to Qatar Trib- une on the sidelines of the Commercial Bank Retail & opening ceremony of the Consumer EGM Amit Sah bank’s Doha Festival City branch, Commercial Bank Retail & Consumer EGM shut. Amit Sah said the bank has “Currently, we have 29 already been awarded to branches in Qatar. We will open branch at three of the keep on adding one or two Doha Metro stations by Qa- branches in next few years,” tar Rail. he said. President and CEO of Qatar Petroleum Saad Sherida al Kaabi shakes “We will bid for more About the international hand with President and CEO of Marubeni Corporatrion Fumiya branches as and when Qatar market, Sah said the bank Kokubu after signing naphtha deal in Tokyo on Wednesday. Rail floats tenders. Our aim would continue to focus on Qatar Petroleum President and CEO Saad Sherida al Kaabi met with Japan’s Minister of Foreign Affairs is to have branches inside the Turkish market. Taro Kono in Tokyo, QP said in a statement on Wednesday. The meeting discussed to enhance bilateral at least seven to nine Doha Despite the recent fall Marubeni will receive 1.2 mn metric tonnes relations and cooperation between Japan and Qatar particularly in the oil and gas industry. Qatar’s Ambas- Metro stations,” he said. in Turkish lira, he said, the of naphtha/year from QP from Oct 2018 sador to Japan HE Hassan bin Mohammad Rafi al Emadi and Qatargas CEO Sheikh Khalid bin Khalifa al Decision to open branch- bank is bullish about Turk- Thani also attended the meeting. es at Doha Metro stations, ish market. he said, comes in line with “Turkey is a strong TRIBUNE NEWS NETWORK statement added. growing need for energy prod- Qatar Petroleum and Marubeni and Qatar Pe- Commercial Bank’s strategy economy and very impor- DOHA President and CEO of Qa- ucts.” Marubeni have a long- troleum have joint invest- to serve high-traffic areas. tant market given its geopo- tar Petroleum Saad Sherida al President and CEO of standing strategic partner- ment in Mesaieed Power “Doha Metro is very litical positioning. Qatar’s QATAR Petroleum (QP) has Kaabi said, “This contract will Marubeni Fumiya Kokubu ship through several shared Company Ltd's (MPCL) 2000 futuristic and we can an- relationship with Turkey signed two five-year sales further enhance the strategic said, “This long term contract investments in the energy MW Mesaieed Independent ticipate that there would be has become stronger post agreement with Japan’s Maru- partnership and relationship with Qatar Petroleum will not industry. This includes Qa- Power Plant. very high traffic on the sta- blockade. We have recently beni Corporation to supply between Qatar Petroleum and only respond to the growing tar Liquefied Gas Company Marubeni Corporation tions. We need to tap this bought a new head office 1.2 million metric tonnes of Marubeni Corporation. petrochemical feedstock de- Limited (Qatargas 1), which is the largest petrochemical opportunity,” he said. worth $50 million in Is- naphtha per year from October "Both our entities have mand in Japan and Asia, but produces and exports about feedstock trading entity and Sah said the bank’s tanbul. We will be formally 2018, the company announced been working together for dec- is also a 'win-win' business 10 million tonnes of LNG per aggregator in Asia. It has re- branches at the Metro sta- opening it in November this in a statement on Wednesday. ades and have enjoyed a fruit- model for the both of us. annum, and the two Ras Laf- ceived continuous and stable tions will have the combi- year,” he said. The agreements are the ful partnership.” "This deal validates Qatar fan-based condensate refin- supplies of various grades nation of self-service and “We have also put in largest and longest to be con- Kaabi said, “Qatar is a Petroleum and Marubeni as eries, Laffan Refinery 1 and of naphtha from Qatar since manned branches. additional $50 million for cluded with Marubeni since trusted supplier of energy to strategic partners who contin- 2, which have a combined 1986, which has enabled The bank is also in the further investment in the both parties started their Japan, and through coopera- ue to add value to their exist- daily processing capacity of Marubeni to reliably supply a process of opening more Turkish market. These in- naphtha business together tion with partners like Maru- ing investments in LNG, refin- 292,000 barrels, the state- variety of end users in Japan, branches and relocating vestments are long-term. over three decades ago, the beni, we can help meet Japan’s eries and power plants.” ment said. the statement said. some of the branches in We will continue to target the country, he said add- mid and high-end segment ing some of the branches in of businesses in Turkey,” he QIIB gauging interest for its proposed low-traffic areas might be said. sukuk in Far East, Europe: CEO Sheibi RAHUL PREETH from Saturday to Thursday, a wide segment of customers DOHA from 9:30am to 2:30pm and living in the vicinity of The from 3:30pm to 9pm. On Fri- Mall at Al Hilal,” he added. THE Qatar International Is- days, the branch will be open The new branch is spa- lamic Bank (QIIB) is gauging from 4pm to 9pm. cious and sports a modern de- interest for its proposed $500 “Key to reorganising the sign. The business hours suit million sukuk among investors QIIB branch network is cus- customers with extended time in the Far East and Europe, its tomer convenience. Longer during morning and evening chief executive said in Doha on business hours in branches hours. Adequate parking fa- Commercial Bank Retail and Consumer EGM Amit Sah. Wednesday. help customers of all catego- cilities have been provided “For the sukuk, now we ries,” the chairman said. at the complex to ensure that have two options — either we The bank's branch net- customers find convenience in go for private or public. Still, work, to which this facility has visiting the branch. we are thinking which way been added, has seen signifi- The local expansion strat- we have to go,” Abdul Basit cant changes over the last few egy of the bank, Sheibi said, Brent crude at highest Ahmed al Sheibi said ahead of months with the opening of focuses on meeting its cus- the inauguration of the bank’s several new branches, mostly tomers’ aspirations. new branch at The Mall in Al in commercial complexes. “We are implementing an since October 2014 Hilal. QIIB Chairman and Managing Director Sheikh Khalid bin Thani bin “The QIIB branch at The expansion strategy, locally in Sheibi did not give a time- Abdullah al Thani and other board members inaugurate the bank’s Mall is the fifth such facility to Qatar, with one main prior- REUTERS stockpiles and reports of high- frame for the issuance of the newest branch at Gate 7 of The Mall in Al Hilal. be set up in commercial cen- ity- meeting the expectations NEW YORK er Saudi Arabian and Russian Sharia-compliant bond, but tres,” Sheibi said. of our customers. Strength- production. said the bank has it “in our man and Managing Director tion has been carefully chosen “This is in line with the ening our presence in prime BRENT crude rose to a four- Brent crude rose $1.81 to mind”. Sheikh Khalid bin Thani bin in view of the importance of Al opening of QIIB branches at locations such as malls, which year high on Wednesday, as $86.60 a barrel, touching a “I think, we need to go and Abdullah al Thani inaugurated Hilal, which has many com- the Ezdan Mall in Al Gharafa, are attractive destinations the market focused on upcom- high of $86.74 a barrel, the test the market another time,” its the new branch a few min- mercial establishments be- the Mall of Qatar, the Doha of different categories of our ing US sanctions on Iran while most since October 30, 2014. he said at Gate number 7 of utes later. sides residential areas. Festival City and the City Cent- clients, helps us achieve this shrugging off the year’s larg- US crude was up $1.50 at The Mall, where QIIB Chair- Sheikh Khalid said its loca- The Mall branch operates er. This new branch will serve goal.” est weekly build in US crude $76.73 a barrel. Exports of Italian food products to Qatar grows 15% in 2018 H1: Official Earlier the Italian Ambas- issues related to food and di- sector of hypermarkets, it Affordable top quality Italian food sador to Qatar HE Pasquale rectly impacting our lives and also means cooperating with Salzano inaugurated the wellbeing.