Moody's rates Qatar Petroleum A1

Moody's Investors Service said it assigned A1 long-term foreign- and local-currency ratings to Qatar Petroleum, the wholly state-owned national oil and gas company of Qatar. The outlook is stable.

The agency said the ratings benefit from high state support assumptions, given the inextricable strategic link between the state of Qatar and Qatar Petroleum. This reflects the fact that Qatar Petroleum plays a central role in the development of Qatar's economy, which is largely planned around increasing gas exports.

The ratings are also supported by the company's low cost structure, which is likely to become even more competitive through economies of scale as projects come on stream, and significant reserve life of several hundred years for gas and around 80 years for oil, the agency said.

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