Qatar Business

Doha, Qatar: Baladna Q.P.S.C., Qatar’s largest dairy and beverage company, today announced that its Board of Directors has proposed a 24% capital increase via a Rights Issue, subject to regulatory approvals and a shareholder vote at an upcoming Extraordinary General Meeting (EGM). The proposed Rights Issue marks the next phase in Baladna’s long-term strategic journey, as the Company looks to build on its success in Qatar and scale into a regional leader in vertically integrated dairy and beverage production. This aims to strengthen Baladna’s capital base and preserve the strategic flexibility to pursue long-term value creation across high-potential markets. Mr. Marek Warzywoda, Group CEO, commented: "We’ve built a resilient business model anchored in food security, operational efficiency, and disciplined execution. Baladna delivered record 9M 2025 operational and financial performance, and this proposed capital increase represents a strategic step to scale our international footprint and build long-term value. Our ambition is to transform Baladna from a national Qatari champion into a regional powerhouse, to become one of the top dairy and beverage producers in the MENA and international markets.” Baladna’s strategy is built around a proven, scalable model that integrates large-scale farming, modern processing capabilities, and deep in-market distribution. Today, Baladna is taking its proven model to underserved markets across the region, supporting nations in building their own resilient food systems. The Company is now executing on several landmark initiatives to expand its footprint across priority markets through its strategy of “From Qatar to the World”. In Algeria, the Company is actively progressing one of the world’s largest vertically integrated dairy projects, with a total investment of USD 3.5 billion. The project spans 117,000 hectares of leased farmland, is designed to house 240,000 Holstein cows, and is expected to produce up to 1.7 billion liters of milk and 198,000 tons of milk powder annually. Fully funded and already under construction, the project is majority owned by Baladna (51% equity stake) in partnership with Algeria’s National Investment Fund (49% equity stake). In Syria, Baladna’s Board has approved a USD 250 million investment to establish an integrated industrial complex that includes dairy production, juice, plastic packaging, and water treatment facilities. The project positions Baladna as a first mover in a market with significant growth potential and limited local production capacity. The Company is also actively evaluating expansion opportunities in selected African markets, where Baladna’s scalable farm-to-shelf platform can serve fast-growing populations and support national self-sufficiency goals. These initiatives reflect Baladna’s ambition to evolve from a symbol of Qatar’s capacity as a local champion towards a leader beyond its borders. As it looks to the future, Baladna aims to increase its EBITDA to QR 1.4B by 2030 compared to QR 0.4B in 2024 baseline year, representing a 3.5x improvement, underpinned by international expansion, continued operational efficiency, and innovation in high-quality food production. The proposed Rights Issue follows the recent 7.1% capital increase via bonus shares approved on November 6, 2025, and marks the next step in Baladna’s capital strategy by aligning shareholder value creation with the Company’s growing international ambitions. For the first nine months of 2025, the Company reported record-breaking financial performance with strong profitability, with revenue of QAR 941 million (up 10% year-on-year “YoY) and net profit of QAR 381 million (up 170% YoY). Further details on the proposed Rights Issue, including the issue price, subscription ratio, record date, and proposed use of proceeds, will be announced following Board and regulatory approvals. About Baladna Baladna Q.P.S.C. is Qatar’s leading producer of fresh dairy and food products, publicly listed on the Qatar Stock Exchange. The Company operates one of the region’s largest and most advanced vertically integrated dairy farms, delivering more than 270 high-quality products across dairy, juice, and food categories. Founded on a mission to contribute to national food security, Baladna has built a scalable and resilient farm-to-shelf model, supported by innovation, sustainability, and operational excellence. With a strong foundation in Qatar, Baladna is expanding internationally through strategic partnerships and government-backed projects in high-potential markets such as Algeria, Egypt, Syria and other African markets. These efforts are aligned with its vision to become a major global dairy producer and to help build self-sufficient food ecosystems in emerging economies. Baladna remains committed to delivering long-term value to its shareholders while playing a transformative role in food and agricultural development across the region. Baladna is also a key contributor to Qatar’s self-sufficiency ambitions and the country’s National Vision 2030.

Energy

London, UK: US oil giant ExxonMobil said Tuesday it was closing an ethylene gas plant in Scotland, possibly affecting more than 400 jobs, due to what it said were difficult economic and policy conditions in Britain. The Fife Ethylene Plant north of Edinburgh will close in February 2026, the company said in a statement, describing it as "a cornerstone of chemical production in the UK for 40 years". The closure "reflects the challenges of operating in a policy environment that is accelerating the exit of vital industries, domestic manufacturing, and the high-value jobs they provide", it added. "We assessed various options to continue production and tested the market for a potential buyer, but the UK's current economic and policy environment combined with market conditions, high supply costs and plant efficiency do not create a competitive future for the site." ExxonMobil said around 179 employees were directly affected, plus about 250 contractors -- but 50 employees could be transferred to another site in Fawley in southern England. A UK Government spokesperson called it "a commercial decision for the company to take". "The UK Government explored every reasonable avenue to support the site, but Exxon has had significant global challenges," the spokesperson said. "Our focus now must be on supporting the workforce in the months ahead." The oil giant announced mixed results at the end of October for the third quarter, with revenue down 5.25 percent year-on-year and net profit down more than 12 percent, largely due to falling oil prices. Struggling with tepid growth, Prime Minister Keir Starmer's Labour Government is set to present a high-risk budget next week. Britain is required to reach net zero by 2050 under its Climate Change Act.

Qatar Business

Doha, Qatar: TotalEnergies Marketing Qatar and Q-Auto, a leading provider of mobility solutions and official dealer of premium automotive brands in Qatar, have renewed their long-standing partnership for the exclusive supply of premium automotive lubricants in Qatar until 2028. The collaboration ensures that Quartz premium engine oils by TotalEnergies will continue to be used exclusively across Q-Auto’s after-sales service network for Audi, Volkswagen and Skoda vehicles. Since 2020, Q-Auto has been offering two of TotalEnergies’ most advanced fully synthetic lubricants to drivers:Quartz Ineo Xtra Long Life 0W-20 - developed with Eco-Science Technology, it is ideal for car owners with hybrid and conventional engines and who prioritise fuel efficiency, engine longevity, and long-lasting engine cleanliness and reduced carbon/particle emissions Quartz Ineo Long Life 0W-30- formulated with Age-Resistance Technology, it offers outstanding engine protection under all driving conditions and supports long-term vehicle performance “We are delighted to extend our partnership with Q-Auto, offering our most advanced lubricants engineered to meet the evolving demands of modern engines,” said Thomas Vigneron, Managing Director, TotalEnergies Marketing Middle East and Central Asia. “This long-term cooperation is built on trust, innovation, and a shared ambition to deliver performance, safety, and continuous improvement in customer experience.” Ahmed Shariefi, Chief Executive Officer of Q-Auto LLC, added: “Our partnership with TotalEnergies ensures that our customers receive nothing but the best — manufacturer-approved, high-quality lubricants that support engine longevity and performance.”