Qatar Petroleum Committed to Good Corporate Governance says H.E. Al-Attiyah 

Doha, 25 January, 2010 - Under the auspices of H.E. Abdullah bin Hamad Al Attiyah, Deputy Premier, Minister for Energy & Industry, Qatar Petroleum Internal Audit Department held its one-day annual forum last Sunday (24th January), at the Ritz Carlton Doha.

The Forum discussed the overall objectives and direction of the IA Department for 2010. Groups were formed to analyze performance at the Corporation and at the IA Department, and the areas to be improved at both levels.

In his speech at the forum, H.E. Al-Attiyah, Chairman and Managing Director of Qatar Petroleum, recalled his statements at the First National Conference on Internal Auditing in Qatar, held last year, and reiterated that "Qatar is committed to business ethics and good corporate governance."

He pointed out that the tremendous growth that all Qatar industries have experienced under the leadership of HH Sheikh Hamad Bin Khalifa Al-Thani requires good corporate governance based on four pillars of success; transparency, responsibility, fairness and accountability.

Restating the vital role of the internal audit, His Excellency stressed that that Conference "confirmed my commitment - as Chairman and Managing Director of Qatar Petroleum - to expanding the role of Internal Audit in all the companies, projects and joint ventures under my control." Such forums, His Excellency said, "reinforced QP’s faith in auditors as our conscience and in their role as guardian of our corporate moral life".
His Excellency confirmed his full support of QP’s IA Department and to the internal audit process. Reiterating statements he made to the local press a few days ago on the subject of business ethics and fear of the IA process, His Excellency repeated the advice: "Don’t steal and you won’t feel scared".

He assured all IA staff that there would be no exception or bias for anybody in the corporation. Elaborating on this point, he made it clear that the process of fighting corruption starts at the top, and nobody is exempt, no matter what their status.

He expressed pride in the fact that Qatar Petroleum, which had practically no auditing entity when he joined the corporation, has become a pioneer in establishing business ethics standards and that many other organizations in the country seek its advice on this issue. He said many QP managers and high officials now take the initiative in calling on the IA to ensure that their activities are in compliance with standards and ethics.