Qatar sets up new company to market domestic petrochemical products

In a statement Tuesday, majority government-owned conglomerate Industries Qatar said it was unveiling changes to the way it sold its products.

The Qatar Chemical and Petrochemical Marketing and Distribution Company, or Muntajat, would have "exclusive rights to purchase, market, distribute and sell the State of Qatar's production of chemical and petrochemical regulated products to the global market", the statement said.

The new entity is expected to start operations in the first quarter next year.

Abdulrahman Ahmad Al-Shaibi, chief coordinator at Industries Qatar, said the move would not affect the group's 2012 financial results.


Dow Jones Newswires