Qatar Gulf News – Doha, Qatar, Wednesday September 14th 2016. QATAR ENERGY from oil and gas reserves to power, electricity, petrochemicals …”just about everything”
QATAR is fueling global growth and future!
The year 2015 was a challenging one for Qatar’s oil and gas industry. The state saw its hydrocarbons revenues, which account for a significant portion of its income, significantly impacted as an ongoing global oil price plummet accelerated, with crude oil losing over two-thirds of its value between June 2014 and January 2016. The price slump extended into 2016, driven by soaring global.
With the fall in oil prices underlining the dangers of an over reliance on hydrocarbons revenues, Qatar has continued to forge ahead with its economic diversification drive in 2016. Non-hydrocarbons growth now outstrips hydrocarbons growth, with several big-ticket construction projects, an increasingly dynamic financial services sector and a growing reputation as a tourist destination all fueling non-oil expansion.
Mohammed bin Saleh Al-Sada, Minister of Energy and Industry:
Given current market conditions, to what extent is the country’s domestic energy policy focused on enhancing oil production?
Hamad Mubarak Al-Muhannadi, CEO, RasGas
How have declining oil and gas prices affected the manner in which RasGas approaches the international liquefied natural gas (LNG) industry?
Qatar streamlines the LNG sector: With global oil and gas prices remaining depressed in mid-2016, impacting government revenues and production, state-owned Qatar Petroleum (QP) is now rolling out an ambitious restructuring programme that aims to reduce its domestic workforce and expand into international energy markets, with a focus on production.
Sheikh Khalid bin Khalifa Al-Thani, CEO, Qatargas
In what manner will the construction of Laffan Refinery 2 (LR2) impact national condensate production in the future?
Qatar remains a leading player in oil and gas: The year 2015 was a challenging one for Qatar’s oil and gas industry. The state saw its hydrocarbons revenue, which accounts for a significant portion of its income, significantly impacted as an ongoing global oil price plummet accelerated, with crude oil losing over two-thirds of its value between June 2014 and January 2016. Qatari GTL to defend market share. Rising demand, an expanding product range and innovative new applications for gas-to-liquids (GTL) products should help Qatar maintain growth in its GTL industry, bucking declines in conventional hydrocarbons prices.
Illustration: ”Oil, Gas and Petrochemicals” Edition 2009 by Dr. Theodore Theodoropoulos and ”The Secret World of Energy” Edition 2011 by Dr. Theodore Theodoropoulos:
Sources: QGN, CAYE Global News, LNG Global News, ICIS, Lloyd’s List.