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Qatar intends to withdraw from OPEC

IANS  |  Doha 

on Monday announced that it intended to withdraw from the Organization of Exporting Countries (OPEC) in order to focus on its plans to increase natural gas production,.

The planned January 1, 2019, withdrawal was announced at a press conference here earlier in the day and confirmed by Petroleum, the state-owned corporation responsible for oil-and-gas activities, on Twitter, reports news.

Saad Sherida al-Kaabi, for Energy Affairs, said had been informed of the decision.

He said the withdrawal decision reflects Qatar's aim to increase its from 77 million tonnes a year to 110 million tons in the coming years.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 12:56 IST
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