Qatar Petroleum agrees deal with Chevron for new petchem complex

DOHA: Qatar Petroleum signed an agreement on Monday with U.S. oil major Chevron for the development of a new petrochemicals complex at Ras Laffan Industrial City.

Chevron will own a 30% stake, while Qatar Petroleum will own the remaining 70% in the plant, which is due to start in 2025, Qatar Petroleum Chief Executive Saad al-Kaabi said at a news conference in Doha.

The new complex will help boost Qatar's polyethylene output capacity by 82%, Kaabi said.