Qatar Petroleum’s name change to Qatar Energy reflects its broader strategy but it would not sell assets.
On Monday, CEO Saad Al Kaabi said that the new name better represented a broader strategy that includes a focus on energy efficiency and environmentally-friendly technology such as capturing and storing carbon dioxide (CO2).
He added that the company is currently in an abundance of cash, therefore seeing no need to sell its assets to raise funds as other Gulf state producers have.
Previously in June, under the old name, the company raised USD12.5 billion through a bond issue. The cash is now sitting in accounts, not being used. It was just to make sure that the company possesses enough liquidity.
