Mesaieed Petrochemical Holding Company (MPHC.QE), a subsidiary of Qatar Petroleum. MPHC which is specialized in the production and selling of olefins, polyolefins, alpha-olefins and chlor-alkali products – had announced its Q1 2014 results. The main activity of MPHC is to act as a holding company. The group consists of 6 companies, with 3 of them directly held by MPHC as follows: (1) Qatar Chemical Company (Q-Chem) and Qatar Chemical Company II (Q-Chem II), both are 49% held by MPHC, and (2) Qatar Vinyl Company (QVC), 55.2% owned by MPHC. MPHC had recorded a net profit of QAR463.8mn, implying average monthly earnings of QAR155mn, almost in line with that recorded in the last 4-month period of 2013.

Mubasher Trade and Research stated that during Q1 2014, MPHC subsidiaries Q-chem/Q-chem II witnessed a flat growth in earnings; recording total earnings of QAR444.9mn, implying average monthly earnings of QAR148mn, in line with that recorded in the last 4-month period of 2013 that reached QAR150mn. Overall product prices remained flat, yet subsidiaries operated at a higher utilization rate of 123% in Q1 2014, vs. average utilization rate of 105% during last 4-month of 2013. Meanwhile, QVC, the 55.2% subsidiary, experienced a shutdown in facilities, which reduced its earnings to QAR8.1mn, implying monthly average earnings of QAR3mn vs. average monthly earnings of QAR10mn recorded in 4-month period of 2013. The drop was attributed to higher maintenance and selling expenses.