Following this acquisition, SEEF will be fully owned by QP.
This transaction highlights QP's pursuit of its strategy of consolidating its operations, as well as UDC's strategy of exiting non-core business.
HE the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi, also the President and CEO of QP, said, “This transaction allows for the full integration of SEEF Limited into Qatar Petroleum’s refinery operations in Mesaieed Industrial city. We believe that this will help us achieve greater synergy value and boost our efforts to enhance and consolidate our operations.”
Al-Kaabi also thanked the management and staff of UDC for their valuable efforts towards the successful completion of this transaction.
On his part, Ibrahim Jassim al-Othman, president and chief executive officer, UDC, stressed the importance of this agreement saying, “This transaction comes in line with our strategy of focusing on core-business to deliver greater value and enhanced returns to our shareholders. We believe this transaction was necessary to eliminate our exposure to hydrocarbon commodity price fluctuations.”
SEEF was incorporated in Qatar in July 2004 to manufacture LAB, the most widely used surfactant in biodegradable household detergents.
Today, SEEF produces 80,000 metric tonnes per year of normal paraffin, 100,000 metric tonnes per year of LAB and 36,000 metric tonnes per year of benzene.
SEEF’s plant is located adjacent to QP’s refinery in the Industrial Area of Mesaieed, about 40 kilometres south of Doha.
This transaction highlights QP's pursuit of its strategy of consolidating its operations, as well as UDC's strategy of exiting non-core business.
HE the Minister of State for Energy Affairs, Saad bin Sherida al-Kaabi, also the President and CEO of QP, said, “This transaction allows for the full integration of SEEF Limited into Qatar Petroleum’s refinery operations in Mesaieed Industrial city. We believe that this will help us achieve greater synergy value and boost our efforts to enhance and consolidate our operations.”
Al-Kaabi also thanked the management and staff of UDC for their valuable efforts towards the successful completion of this transaction.
On his part, Ibrahim Jassim al-Othman, president and chief executive officer, UDC, stressed the importance of this agreement saying, “This transaction comes in line with our strategy of focusing on core-business to deliver greater value and enhanced returns to our shareholders. We believe this transaction was necessary to eliminate our exposure to hydrocarbon commodity price fluctuations.”
SEEF was incorporated in Qatar in July 2004 to manufacture LAB, the most widely used surfactant in biodegradable household detergents.
Today, SEEF produces 80,000 metric tonnes per year of normal paraffin, 100,000 metric tonnes per year of LAB and 36,000 metric tonnes per year of benzene.
SEEF’s plant is located adjacent to QP’s refinery in the Industrial Area of Mesaieed, about 40 kilometres south of Doha.