Donald Trump presidency is ‘very positive’ for oil, says Qatar Petroleum chief
The world has been watching US president Donald Trump’s economic actions with growing concern. A great advocate of protectionist policies, many countries fear his impact on world economy.
However, Qatar Petroleum CEO Saad Sherida Al Kaabi dismissed fears that his policies would adversely impact global oil and gas markets. He said he expected the US policy to remain similar to that exercised under previous presidents.
“Projects that we get into are projects that we get into for 25 to 30 years. They survive seven, eight presidents or whatever. The president (Trump) is a businessman. Bringing in foreign investment into the US is something that I think he would want..
“As far as I’ve seen, as far as the oil and gas business is concerned, he's been very positive for oil and gas,” South African broadcasting site eNCA.com quoted Al Kaabi as saying.
China, Germany and France have raised fears about protectionist strategies, including tougher trade rules, being used by Washington.
QP has joint ventures with America's ExxonMobil, whose former chief executive Rex Tillerson is now Trump’s secretary of state.
Trade between Qatar and the US is set to grow after the Qatari government said last year that it wanted to invest $35bn in the US by 2020.
Kaabi said his company would pursue a growth strategy for the foreseeable future, including major international projects, as it adjusts to depressed global energy markets in recent years.
“As far as our strategy is concerned, we’re in a growth mode and we’re going to continue to be in a growth mode for quite a while. Some will be national, but the majority will be international,” he said.
QP, together with ExxonMobil, Italy's ENI and France's Total, were last month selected to negotiate a license to explore for gas in Cyprus.
I would say Kaabi is right, Trump may be a disaster, but surely his intentions to give USA top priority are genuine. he is right in demanding better for his homeland, as we everyone would like to.
as for as arab countries is concerned, they are almost all developed and are having better standard of living, they now need to invest in growing markets all over the world and bring in foreign money rather than infusing money in their home land, giving subsidies and allowing expatriates to send their forex.
mantra is invest in growing Markets al over and become more RICH.
Wait and see.. With him allowing the building of new pipelines and exploration on US soil, surely the supply will increase leading to lower overall prices