October 20, 2026 08:40 am (IST)
Follow us:
Qatar government announces decision to pull out of OPEC
Doha, Dec 3 (IBNS): Qatar on Monday announced its decision to withdraw from Organization of Petroleum Exporting Countries (OPEC) in order to focus on increasing production of natural gas.
The move will be made effective from Jan 1, 2019.
Saad Sherida Al-Kaabi, the country’s Minister of State for Energy Affairs made the announcement during a press conference in Doha on Monday.
Quoting Saad Sherida Al-Kaabi, Qatar Petroleum, the state-owned corporation responsible for oil and gas activities, posted on Twitter: "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."
Qatar announces it was withdrawing from the Organization of Petroleum Exporting Countries “OPEC” effective 1 January 2019.
— Qatar Petroleum (@qatarpetroleum) December 3, 2018
He said: "Achieving our ambitious growth strategy will undoubtedly require focused efforts, commitment and dedication to maintain and strengthen Qatar’s position as the leading natural gas producer.”
Qatar was a member of OPEC since 1961.
Saad Sherida Al-Kaabi said OPEC has been informed on the matter.
Qatar was a member of OPEC since 1961.
Saad Sherida Al-Kaabi said OPEC has been informed on the matter.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
India–New Zealand free trade agreement takes effect on October 20
Mon, Oct 19 2026
Ecuador: Priest dies after giant crucifix falls on him during mass, video goes viral
Sun, Oct 18 2026
Planning a Bali trip? Fuel shortage triggers odd-even rule, Indian tourist shares nightmare
Sat, Oct 17 2026
Air France bans Pakistani pilots from Israel flights after security crackdown; United Airlines follows suit
Wed, Oct 14 2026
flydubai cockpit attack probe widens: Two Maldivian pilots detained in UAE over links to Omani co-pilot
Wed, Oct 14 2026