About Qatar Petroleum
Qatar Petroleum (QP) is a state-owned public corporation established by Emiri Decree No. 10 in 1974. QP is responsible for all phases of the oil and gas industry in the State of Qatar. The principal activities of QP, its subsidiaries and joint ventures are the exploration, production, local and international sale of crude oil, natural gas and gas liquids, refined products, synthetic fuels, petrochemicals, fuel additives, fertilizers, liquefied natural gas (LNG), steel and aluminum. Each of these activities is underpinned by transparency, innovation and high standards of quality and service.”
Engagement with the EITI
Qatar Petroleum became a new EITI supporting state-owned enterprise (SOE) in 2019. QP has gone through a remarkable transformation over the past few years as it endeavors to achieve its ambitious vision: “To become one of the best national oil companies in the world, with roots in Qatar and a strong international presence.” Part of this transformation has included redefining QP’s strategy and values, which are provided here and include its six core values: safety, integrity, respect, excellence, responsibility and collaboration.
QP recognizes in today’s global environment, all organizations need to conduct themselves in a principled and legally compliant manner and QP is committed to achieving the highest standards of business practice. QP’s newly launched Code of Conduct outlines how the enterprise commits to ethical behavior and building and supporting a strong culture of collaboration, integrity and trust. In particular, QP supports the State of Qatar’s National Vision 2030 of balancing accomplishments that achieve economic growth with the human and resource needs of the people of Qatar. Furthermore, QP is committed to ensuring that it is free from any form of corruption and works proactively to ensure that it complies with all applicable laws and international conventions. In addition, QP focuses on business relationships built on trust and transparency and seeks to work with business partners who share similar values. QP will not knowingly work with business partners who violate the law, compete dishonestly or use unfair business practices.
In line with Qatar Petroleum’s strategy and values, and as reflected in its Code of Conduct, QP is committed to supporting the EITI in the countries in which it operates and to promoting transparency throughout the extractive industries.
Financial Contribution to the EITI
Qatar Petroleum contributed USD 60,000 in 2019.
General Counsel and Board Secretary
Statement of Support:
Statement of Support for the EITI is available here: https://qp.com.qa/en/AboutQP/Pages/Governance.aspx
“First and foremost, I would like to express my personal support to this very worthwhile cause. As I am a passionate supporter of the fight against corruption and the concept of open and transparent reporting, I look forward to lending our support to the EITI organization.
At Qatar Petroleum, we know the benefits of running our business in a clean and transparent manner and this is a practice we are committed to ensuring occurs. . . Together with the EITI organization, we will continue to pro-actively promote transparency throughout the petroleum industry. I will likewise pledge to take a leadership role in advocating the EITI Principles internationally and throughout the MENA region.”
- Saad Sherida Al-Kaabi, Minister of State for Energy Affairs, President & CEO, Qatar Petroleum