Qatar Petroleum for the Sale of Petroleum Products Company Ltd. ("QPSPP"), formerly known as Qatar International Petroleum Marketing Company Ltd. (Tasweeq), is a company established pursuant to Decree Law No. (15) of 2007 concerning the Organization of Marketing and Selling of Regulated Products Outside the State of Qatar, and is wholly-owned by the State of Qatar. In 2016, pursuant to Law No. (9) of 2016, Qatar Petroleum ("QP"), a state-owned public corporation responsible for all phases of the oil and gas industry in the State of Qatar, was appointed by the State of Qatar as QPSPP's Marketing Agent in order to leverage the combined set of technical, commercial and financial capabilities and to achieve cost efficiency through the harvesting of synergies.
QPSPP’s primary responsibility is to ensure reliable and efficient off-take of Regulated Products, while maximizing value in a transparent, cost effective and equitable manner for stakeholders, which include the State of Qatar as well as international investors and venture partners involved in the production and export of oil and gas products. It is committed to deliver Qatar’s energy to the globe reliably, efficiently and responsibly.
The success of QPSPP is built upon the implementation of commercial and operational controls and governance best practices. It is supported by proprietary IT systems designed for QPSPP’s specific business processes. As QPSPP's Marketing Agent, QP has implemented a robust system of internal controls to segregate the marketing of Regulated Products from its day-to-day commercial and operational activities and to preserve the confidentiality of commercial information it accesses in its capacity as QPSPP's Marketing Agent.