Qatar intends to withdraw from OPEC
Qatar intends to withdraw from OPEC
Published:
i
advertisement
Doha, Dec 3 (IANS) Qatar on Monday announced that it intended to withdraw from the Organization of Petroleum Exporting Countries (OPEC) in order to focus on its plans to increase natural gas production,.
The planned January 1, 2019, withdrawal was announced at a press conference here earlier in the day and confirmed by Qatar Petroleum, the state-owned corporation responsible for oil-and-gas activities, on Twitter, reports Efe news.
Saad Sherida al-Kaabi, Minister for Energy Affairs, said OPEC had been informed of the decision.
He said the withdrawal decision reflects Qatar's aim to increase its natural gas production from 77 million tonnes a year to 110 million tons in the coming years.
--IANS
ksk
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)
SCROLL FOR NEXT