QAFAC now 50/50 QatarEnergy–Industries Qatar after JV ends
Key highlights
- The Joint Venture Agreement among Industries Qatar (IQ), OPIC Middle East Corp (OMEC), International Octane LLC (IOLLC) and LCY Middle East Corp (LCYMEC) concluded in June 2024.
- QAFAC is now a Qatari company owned 50% by QatarEnergy and 50% by Industries Qatar.
- The change converts QAFAC into a fully Qatari-owned entity.
Joint venture termination
The Joint Venture Agreement among Industries Qatar (IQ), OPIC Middle East Corp (OMEC), International Octane LLC (IOLLC) and LCY Middle East Corp (LCYMEC) concluded in June 2024.
Ownership change
QAFAC is now a Qatari company with ownership split 50% QatarEnergy and 50% Industries Qatar.
Source: QAFAC