Qatar Petroleum CEO, Saad Sherida al-Kaabi, said that after Qatar had left OPEC in January 2019, the state oil and gas company intended to invest more than $20 billion in the US oil and gas sector. Qatar, the world's largest exporter of liquefied natural gas, in November increased oil production by 14,000 barrels per day to 609,000 barrels per day, OPEC data showed. Its share in the total production in the cartel is only less than 2%. Reuters writes that Qatar plans to increase LNG production by 43% by 2025. It is reported that for this purpose, Qatar Petroleum will not use borrowed funds, it will use its own.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Oil prices gained for the third day on Tuesday, supported by a bounce in demand from efforts to lift the U.S. economy as it struggles to recover from the coronavirus pandemic. Prices were also buoyed by a weakening dollar, making it ...