Iran is expected to sign an oil investment deal worth $50bn with Qatar soon, Iran’s Oil Minister Rustam Qasmi was quoted as saying in a report by UPI yesterday.

UPI quoted Qasmi as telling Iran’s Mehr News Agency that two sectors of the Southern Fares Oilfield are expected to start production by the beginning of next year. The investment deal is expected to develop this joint oilfield. The work of the joint venture has been divided into phases and financing will be ensured on a priority basis, said the report.

THE PENINSULA

Qatar eyes more investment in Germany
BERLIN: Qatar, part-owner of Germany’s Volkswagen and Hochtief, is looking for more investment opportunities in the country, the head of the Gulf state’s sovereign wealth fund said yesterday. “We are looking forward to strengthening our position here in Germany,” the chief executive of Qatar’s sovereign wealth fund, Ahmad Mohamed Al Sayed, told a gathering of German industry executives in Berlin.

Germany offers a highly skilled workforce and outstanding products, and Qatar was looking for more investment opportunities and partners, he said.

LPG production to go up to 12 million tonnes

Doha: Production of LPG in Qatar is expected to reach nearly 12 million tonnes by 2015 from 10 million tonnes this year, Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada said yesterday.

In his inaugural speech at the 24th World LP Gas Forum here, the minister said LPG production in Qatar had expanded rapidly during the past decade as a result of rapid expansion in LNG production.
QNA