QP has finalized a long-awaited restructuring program that will see the integration of its overseas arm QPI. This will come with a reduction in the number of foreign employees and QP’s withdrawal from non-core businesses.
State-owned oil and gas giant Qatar Petroleum (QP) announced a major corporate shake up at a media briefing in Doha on 24 June. The firm will cut back on its foreign interests and withdraw from non-core (ie non-oil and gas) business areas such as insurance, catering and other service companies. No specifics were unveiled regarding staff cuts. The company has around 14,000 employees. (CONTINUED - 1051 WORDS)
