Nakilat Unfazed by Oil Price Seesaw
- Business & Finance
Qatar Gas Transport Company (Nakilat), the shipping arm of Qatar’s liquefied natural gas (LNG) sector, has reported a 10% increase in net profit attributable to its shareholders for the first six months of 2015 when compared to the same period a year before.
Nakilat brought its shareholders QAR 490.2 million (134.6 million) in the first half of the current fiscal year, compared to QAR 443.9 million the company had earned in the first six months of 2014.
The company’s revenue for the period was QAR 1.78 billion, a 2% increase compared to QAR 1.75 billion revenue in 1HFY14.
The rise in net profit and revenue is attributed to Nakilat’s strategic development and successful joint ventures.
The company believes that it is in a good position to face the current economic situation, as its ships are on long-term charter hire contracts that are not impacted by temporary fluctuations in oil prices.