Qatar has no plans to return to OPEC

Qatar has no plans to return to the Organization of the Petroleum Exporting Countries (OPEC), the country that specializes in gas production. This was stated by the Minister of Energy of Qatar, Saad Al-Kaabi, Angi reports.

“We are a gas country, we are a small oil-producing country. Therefore, it makes no sense for us to continue to stay in OPEC. And we will not reconsider this decision,” he said.

In December 2018, the Qatar Energy Minister announced that the country had decided to leave OPEC from January 1, 2019. He explained that Qatar decided to leave OPEC after analyzing the possibilities of strengthening its position on the world stage. This is a technical and strategic step, not related to the political and economic boycott of Qatar, which was announced in the summer of 2017 by Saudi Arabia, the UAE and seven other countries. According to Saad Al-Kaabi, Qatar planned to focus on developing and increasing LNG production.

As reported, Ukraine and Qatar signed a memorandum on cooperation in the oil and gas sector.

Tags: gas, oil, oil production, foreign affairs, OPEC, negotiations, price, petroleum products, oil deliveries, Saudi Arabia, economy, oil market

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