Qatar’s Tasweeq to Increase Bank Financing Outside Europe - Businessweek

Qatar International Petroleum Marketing Co., the state marketer of oil and gas products, will seek to diversify its funding sources to include banks outside Europe in the next year, an official said.

Qatar International, known as Tasweeq, will rely more on Asian banks, particularly Japanese lenders, because of concern for the European economic outlook and the possibility of bank failures, Roger Hickman, the company’s executive director of finance, said in an interview in Singapore.

“We’re trying to spread out across more banks than we currently have, so that we have access to funds,” he said after speaking at the Eurofinance conference in the city-state. “We are looking to aggressively balance our bank concentration risk to avoid excessive exposure to Europe,” Hickman added.

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