The draft law signed off on by the Cabinet would “delegate Qatar Petroleum as a representative to market and sell government-regulated products on its behalf.”
Speaking in a press conference yesterday, Saad Sherida Al-Kaabi refused to confirm a figure for the retrenchment program, which has been underway since November 2014, but said no Qatari nationals had lost their jobs.
Demand was "heavy" after Qatar pitched the shares as an attractive savings tool for nationals. Expats will have the option of investing when the QP subsidiary is officially listing on the Qatar Exchange, likely next month.
Mesaieed Petrochemical Holding Co., a subsidiary of state-owned Qatar Petroleum, is expected to start selling shares to Qataris next week, as part of a push by authorities to share wealth among citizens and diversify the economy.
UPDATE – May 9, 2012: The cause of the fire was the explosion of a butane torch, the Jakarta Globe reports. Four of the seven killed were Indonesians, whose remains have…