Qatar Petroleum said that limits to foreign company ownership in the world leading LNG exporter’s energy sector, as well as shareholder ownership limits, have been increased.
According to the new decision, non-Qatari ownership limit in the energy sector companies and its units listed on the Qatar stock exchange has been lifted to 49 percent. Qatar Petroleum added in its statement that shareholder ownership has been limited to no more than 2 percent.
Hence, Qatar Electricity and Water Company, WOQOD, Gulf International Services Company and Mesaieed Petrochemical Holding Company will take the necessary steps within the coming weeks to approve the increase in the foreign ownership limit to 49 percent in accordance with the applicable regulations and procedures.
WOQOD will increase the shareholder ownership limit to 1 percent, while Gulf International Services and Mesaieed Petrochemical Holding Company will increase this limit to 2 percent.
Saad Sherida Al-Kaabi, the president & CEO of Qatar Petroleum, said, “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.”
Industries Qatar has recently increased its foreign ownership limit to 49 percent in line with Qatar Petroleum directives.