GulfBase Live Support
Leave a message and our representative will contact you soon
07/08/2017 06:07 AST
Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates, delivered a net profit of QR468.6m for the six month period ended June 30, 2017.
MPHC’s earnings per share stood at QR 0.37 and profit edged down marginally by 4 percent from a year ago.
Reduced sales volumes on periodic turnaround in some of the group companies’ plants are offset by the increase in selling prices.
The financial performance significantly exceeded the group’s budget expectations. The group’s profit for the period was also aided by recognition of a tax refund of approximately QR42.8m for the period.
The group continued to benefit from the supply of competitively priced ethane feedstock and fuel gas under long-term supply agreements. This contracting arrangement is an important value driver for the group’s profitability in a challenging market condition.
The closing cash position after the first six months of operations and after distribution of previous years’ dividends of QR716.5m, was a robust QR876.3m. The total assets at June 30, 2017 were QR14.1bn, compared to QR14.4bn as at 31 December 2016.
The group is closely monitoring the effect of the blockade and is amending the flow of operations and activities when deemed necessary.
MPHC is one of the region’s premier diversified petrochemical conglomerates with interests in the production of olefins, polyolefins, alpha olefins and chlor-alkali products.
MPHC was incorporated as a Qatari joint stock company on May 29, 2013 with an agreed effective date for the transfer of Qatar Petroleum’s previous shareholding in the joint ventures of September 1, 2013.
The main activity of MPHC is to act as a holding company. Q-Chem is currently owned by MPHC (49 percent), Chevron Phillips Chemical International Qatar Holdings L.L.C. (49 percent) and QP (2 percent), and has one wholly-owned subsidiary, Q-Chem Distribution Company Limited,(ii) Q-Chem II is currently owned by MPHC (49 percent), CPCIQH (49 percent) and QP (2 percent), and has one wholly-owned subsidiary, Q-Chem II Distribution Company Limited, and an effective ownership interest of 53.85 percent in a joint venture, Ras Laffan Olefins Company Limited, which supplies ethylene to Q-Chem II; and QVC, which was incorporated in 1997 as a joint venture, and is currently owned by MPHC (55.2 percent), Qapco (31.9 percent) and QP (12.9 percent).
The Peninsula
07/03/2018
Mesaieed Petrochemical Holding Company is embarking on a “selective capital expenditure programme” to maintain competitiveness in the market, it was announced yesterday during MPHC’s annual general m
Gulf Times
15/02/2018
Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates, registered a robust net profit of QR1.1bn for t
The Peninsula
30/10/2017
Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum and one of the region’s premier diversified petrochemical conglomerates, posted a net profit of QR805.9m for the nine mo
The Peninsula
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News