Qatar announces withdrawal from OPEC
by ChemOrbis Editorial Team - content@chemorbis.com
According to a statement on Qatar Petroleum’s social media page, Qatar’s Minister of State for Energy Affairs has announced the country’s withdrawal from the Organization of the Petroleum Exporting Countries (OPEC) at a press conference in Doha, Qatar.
Qatar’s decision reflected its desire to focus its plans to develop and increase its natural gas production, the state-owned petroleum company said in the statement. Over the coming years, Qatar aims to increase its natural gas production to 110 million tons/year from its current level of 77 million tons/year.
According to figures from the Energy Information Administration (EIA), Qatar’s crude oil production was the second lowest in OPEC and the country was the third-smallest crude oil exporter among members in 2014. Qatar currently ranks as the largest exporter of liquefied natural gas (LNG) in the world.
Qatar’s decision reflected its desire to focus its plans to develop and increase its natural gas production, the state-owned petroleum company said in the statement. Over the coming years, Qatar aims to increase its natural gas production to 110 million tons/year from its current level of 77 million tons/year.
According to figures from the Energy Information Administration (EIA), Qatar’s crude oil production was the second lowest in OPEC and the country was the third-smallest crude oil exporter among members in 2014. Qatar currently ranks as the largest exporter of liquefied natural gas (LNG) in the world.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Vietnam’s polymer markets buckle under an influx of Chinese cargoes
- Divergence grows between Egypt’s import and local PP, PE markets
- PP markets in China, Vietnam hit 3-year lows, readying to test new lows
- African PE, PP markets extend slide into May
- Asian PS, ABS markets at 2½-3-year lows amid Chinese oversupply
- India’s Q1 PVC imports hit record-high; did buyers rush to stock up before expected restrictions?
- LDPE prices move below LLDPE, HDPE on global lethargy
- Slide deepens in Middle Eastern PP, PE markets through May
- Oil prices down for fourth straight week, delicate balance ahead
- European ABS under pressure from aggressive imports, PS holds firm
