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  • 03-12-18

    Qatar to make OPEC departure next year

    (MENAFN) Qatar was confirmed to have reached a decision to leave the Organization of Petroleum Exporting Countries (OPEC) early next year.

    Qatar is to be pulling out of OPEC on January 1st of next year, declared Minister of State for Energy Affairs HE Saad Sherida Al-Kaabi during a news conference held in Doha.

    The Qatari minister assured that the OPEC was notified of Qatar's resolution.

    The minister stressed that "the withdrawal decision reflects Qatar's desire to focus its efforts on plans to develop and increase its natural gas production from 77 million tons per year to 110 million tons in the coming years."

    Al-Kaabi added: "Qatar has worked diligently during the past few years to develop a future strategy based on growth and expansion, both in its activities at home and abroad."

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