Doha - Mubasher: Mesaieed Petrochemical Holding Company (MPHC), a subsidiary of Qatar Petroleum (QP), announced signing deals with Qatar Chemical Company Ltd (Q-Chem) and Qatar Chemical Company 2 Ltd (Q-Chem2), two subsidiaries of Mesaieed.

Under the agreements, Mesaieed will provide the two companies with additional amounts of ethane to improve the production capacities of Q-Chem, added to developing the financial and operational performance of its units.

The fluctuation of oil prices, the change in market conditions for MPHC’s products, the loss of market shares, and the industrial competition in the petrochemicals field may affect the execution of the agreements.

Mesaieed owns a 49% stake in each of Q-Chem and Q-Chem2.

In late February, QP and Mesaieed signed a deal to merge Qatar Vinyl Company Ltd (QVC) with Qatar Petrochemical Company (QAPCO).

Mesaieed had previously reported an 8.31% drop in its profits reaching QAR 904.9 million in 2016, compared to QAR 986.91 million in 2015.

By 12:40 pm Qatar time, Mesaieed’s stock gained 0.33% reaching QAR 15.