A petroleum refinery of Qatar Petroleum stands on October 26, 2011 near Umm Sa'id, Qatar. (Photo by Sean Gallup/Getty Images/AFP)
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Qatar Petroleum, the world's biggest producer of liquefied natural gas, plans to expand overseas after a restructuring that included the takeover of its foreign investment arm and the firing of some workers.The unspecified job cuts were one part of an eight-month reorganization that has seen QP take over Qatar Petroleum International, divest non-energy units including a catering company, and impose stricter conditions on foreign partners.QP isn't the only state-owned energy company in the region to focus on international expansion.Kaabi, who was appointed CEO in September after eight years as director of oil and gas ventures at QP, said the company is now the "right size" and had to be reorganized to be more efficient after crude prices tumbled almost 50 percent in 2014 amid a global glut.
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