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Qatar Petroleum boss says Donald Trump «very positive» for crude oil

The head of Qatar Petroleum has shrugged off fears that any potential protectionist policies pursued by US President Trump would impact on global oil and gas markets.

Qatar Petroleum boss says Donald Trump «very positive» for crude oil


The head of energy giant Qatar Petroleum (QP) on Februar 7, 2017, has shrugged off fears that any potential protectionist policies pursued by US President Donald Trump would impact on global oil and gas markets.

Saad Al-Kaabi - who heads state-owned Qatar Petroleum, the largest exporter of LNG and one of the biggest oil companies in the world - said today he expected US policy to remain similar to that exercised under previous presidents.

«Projects that we get into are projects that we get into for 25 to 30 years,» he said. «They survive 7, 8 presidents or whatever. The president is a businessman. As far as I have seen, as far as the oil and gas business is concerned, he's been very positive for oil and gas.»

Fears have been raised elsewhere about a new protectionism being used by Washington.

China, Germany and France's leadership have warned in recent weeks against tougher trade rules being imposed by the US.

QP already has joint ventures with America's Exxon Mobil, whose former chief executive Rex Tillerson is now Trump's secretary of state.

And trade between cash-rich Qatar and the US is set to grow after Doha's government said last year that it wanted to invest $35 billion in the US by 2020.

Among the projects QP is looking at overseas is gas and oil exploration off the coast of Cyprus, Al-Kaabi said.

QP, together with ExxonMobil, Italy's ENI and France's Total, were last month selected to negotiate a licence to explore for gas in Cyprus.

Al-Kaabi added that he believed Qatar would be a leader in the LNG market «for a long time».

Source : Neftegaz.RU


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