VOL. XLI

No. 18

4-May-1998

QATAR

QAFCO's Profits Down By 23% To $107Mn In 1997

The Qatar Fertilizer Company (QAFCO) announced on 29 April that its net profits in 1997fell by 23% to QR391mn ($107.42mn) from QR509mn ($139.8mn) in the previous year because oflower international market prices for urea and ammonia. According to QAFCO's ManagingDirector, Mr. Khalifah al-Suwaidi, the company's 1997 output of ammonia amounted to 1.15mntons and that of urea to 1.44mn tons, exceeding production targets...