86036
Qatar Petroleum currently produces 4.8 million barrels of oil per day.
Qatar Petroleum currently produces 4.8 million barrels of oil per day.

Qatar Pushing Ahead With Energy Expansion, Acquisition Plans

Qatar Pushing Ahead With Energy Expansion, Acquisition Plans

State energy giant Qatar Petroleum will push ahead with its production expansion and foreign asset acquisition strategy to be on par with oil majors, despite a regional political and economic embargo on Doha, its chief executive said.
QP, which produces 4.8 million barrels of oil per day, aims to boost its output to 6.5 million bpd in the next eight years, and is expanding its upstream business abroad, particularly in the United States, CEO Saad Al-Kaabi told Reuters. One of the smallest producers of the Organization of Petroleum Exporting Countries, Qatar is also one of the most influential players in the global liquefied natural gas market due to its annual production of 77 million tons.
“We are in Mexico, we are in Brazil, we are contemplating investing in the US in many areas, in shale gas, in conventional oil. We are looking at many things,” Al-Kaabi said in an interview at QP’s headquarters in Doha.
“We are looking very critically at the United States because we have a position there. We have the Golden Pass that we are investing in,” he said.
Qatar Petroleum is the majority owner of the Golden Pass LNG terminal in Texas, with Exxon Mobil Corp and ConocoPhillips holding smaller stakes.
Al-Kaabi said “depending on the project’s cost and feasibility”, he expects to take a final investment decision on expanding the Golden Pass LNG by the end of the year.
“I’m not in the business of infrastructure. I’m not going to have a liquefaction plant only. It has to be something that will be linked with an upstream business that we would buy in the US so we need to be naturally hedged,” he added.

Short URL : https://goo.gl/ygpmyE
  1. https://goo.gl/dEkLHi
  • https://goo.gl/sUrGB3
  • https://goo.gl/uT9FPA
  • https://goo.gl/e7BxKg
  • https://goo.gl/rMC38P

You can also read ...

Abadan Refinery Gasoline  Production Capacity at 12 ml/d
In line with efforts to boost the country's oil refining...
Russia Launches First Floating Nuclear Plant
To meet its growing electricity needs while developing oil...
Germany Brushes Aside US Objection to Nord Stream 2
Germany brushed aside American concerns about a major natural...
New Anti-Pollution Shipping Rules to Raise Oil Prices
International efforts to reduce air pollution has lifted the...
US Petroleum Demand High
The American Petroleum Institute reported that the first four...
Annual Peak Power Demand  to Increase
The total peak electricity demand hours are predicted to reach...
Iran's downstream market has a vast potential for attracting foreign companies.
US President Donald Trump’s decision to quit Iran's...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus