DOHA: Qatar Petroleum (QP) has decided not to assign any contracts by direct agreement with the relevant parties, including wholly or partly owned companies by QP or its subsidiaries. This was disclosed by Gulf International Service (GIS), a subsidiary of QP, in a regulatory filing to Qatari bourse yesterday. QP’s decision is part of its role to emphasise the importance of strengthening the principals of fair and equal competition through providing genuine participation opportunities for all qualified parties, GIS noted.
GIS, which has business dealings with QP, welcomed the decision. “Gulf International Services welcomes the decision and considers it a starting point for some of its subsidiaries, which have dealings with Qatar Petroleum, to strengthen their capabilities and resources and expand functions and services provided in order for them to be able, like all other companies working in the same field, to compete in the local market,” GIS noted in its regulatory filing. The Peninsula
NEW YORK: Crude oil fell for a second straight day yesterday, weighed by weaker US refined fuels markets and potential negative impact from Greece’s debt crisis on European energy demand. Worries of a possible glut emerging in US petrol and diesel supply after large builds in both last week added to concerns that millions of barrels of Nigerian crude were floating around the Atlantic Basin looking for buyers. Brent crude settled down 29 cents, or 0.5 percent, at $63.20 a barrel. US crude, also known as West Texas Intermediate or WTI, fell 57 cents, or almost 1 percent, to end at $59.70.
reuters
