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Thursday, 9 February 2017

An Energy Giant Bigger Than Exxon in the Shadow of Saudi Aramco - Bloomberg

An Energy Giant Bigger Than Exxon in the Shadow of Saudi Aramco - Bloomberg:

"Qatar Petroleum is the hidden giant of the global energy industry, overshadowed by its neighbor Saudi Aramco. Yet, the country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Rosneft PJSC or Exxon Mobil Corp. After almost two decades of breakneck growth, the company needs to change tack. QP plans to expand abroad as domestic crude output declines and the government bars new drilling in the offshore North Field, home to the gas that made Qatar the world’s leading supplier of liquefied natural gas. QP will have no problem paying for overseas expansion. Qatar’s energy minister, Mohammed Al Sada, said this week that almost all the country’s domestic LNG terminals have been paid for. And despite a near-term glut, he said the commodity will be in short supply by 2021."



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