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Qatar Petroleum says business as usual despite diplomatic rift
June 10, 2017 / 2:01 PM / 6 months ago

Qatar Petroleum says business as usual despite diplomatic rift

RIYADH (Reuters) - Qatar Petroleum(QP) said on Saturday that it was conducting “business as usual” throughout its upstream, midstream and downstream operations, despite rising diplomatic tensions with its Gulf neighbours.

Visitors look at an oil purification unit at a petrochemicals conference in Manama, Bahrain May 19, 2014. REUTERS/Hamad I Mohammed/Files

QP was prepared to take any “necessary decisions and measures, should the need arise, to ensure that it honored commitments to customers and partners”, the statement said.

Saudi Arabia, the United Arab Emirates, Egypt and others severed diplomatic and transport links on Monday with Qatar, the world’s biggest LNG producer, accusing it of sponsoring terrorism.

British gas prices spiked more than 4.5 percent on Thursday on concerns about how the rift could disrupt the global LNG trade, after two Qatari tankers that were likely bound for Britain changed course.

Qatar’s LNG accounts for more than 30 percent of global trade.

Reporting by Tom Finn and Katie Paul; Editing by Hugh Lawson and Alexander Smith

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