Final report for summer internship - Essay Example

The company has a wide market spread. It gets most of its revenue from its primary market which comprises of Far East, Europe and the Gulf Region. The main products of the market are Methanol and MTBE. The Company aims to optimize the exploitation of the country’s infinite hydrocarbon resources through the production and export of methanol and MTBE. Industry Qatar is a limited liability company. The same was registered and integrated in the state of Qatar as a Qatari Shareholding Company. During 2003 QAFAC received the entire shareholding transfer by Qatar Petrochemical (QP) through IQ.

QP is engaged in giving services to the oil industry in Qatar and abroad. It is a state owned corporation engaged in drilling and discovery for oil, natural gas, other hydrocarbon substances and their processing. Presently, QAFAC is the greatest supplier and producer of methanol and MTBE. It supplies its product to the local, regional and international market. The methanol plant has a capacity to produce 832500 tons of methanol annually. The company currently is owned by shareholders where IQ owns 50% of its share, OPIC Middle East Corporation owing 20%, International Octane Limited holding 15% and LCY Middle East Corporation owing 15%. . They are as follows: Prioritize and strategize the promotion of safe and environment friendly production of MTBE.

It exerts profound importance over the endorsement of the storage, handling and proper usage of MTBE To maintain the eco friendly standards of its product and assure the positive contribution to contemporary society. To promote more awareness about its products Augment relationships and networking amongst the shareholders all around the globe. Enhance the industry and shareholders in-depth knowledge and consciousness about their products. To study how clean fuel and clean air can be achieved through MTBE (Saleh Al-Sada, n.d.).

The company does not have any mission statement as such. But it stretches upon the state gets maximum benefits from its product. It also focuses upon building an organization with internationally competitive business and technical expertise. Regarding its service the company offers two products namely Methyl-Tertiary-Butyl-Ether (MTBE) and Methanol. MTBE is produced through processing of butane and methanol. Butane is provided by QP and the methanol plant provides methanol. MTBE is a colorless flammable liquid.

The product is manufactured to reduce the tail gas pollution generated by motor vehicles. It also eliminates the requirement for Tetra Ethyl Lead blending the gasoline. QAFAC produces the methanol from the natural gas provided by the QP through refinement of stream and synthesis of methanol itself. Methanol is used as an energy source and a raw material for some of the day to day item we use at ours household. Methanol can also be used as a raw material for the production of solvents, formaldehyde, methyl halide, methyl amine, acetic acid, ethyl alcohol, acetic anhydride, DME and MTBE.