OPEC exit frees Qatar from U.S. legal concerns | Reuters:
Even before taking over Qatar’s energy policy in a government reshuffle last month, Qatar Petroleum (QP) CEO Saad al-Kaabi had long wanted the Gulf state to leave OPEC.
Kaabi was concerned OPEC membership could be a stumbling block for QP’s ambitions in the United States, where it has one of the world’s biggest LNG terminals, and a distraction as Doha doubles down on gas production, three industry sources said.
Proposed U.S. legislation known as NOPEC (No Oil Producing and Exporting Cartels Act) could expose members of the oil exporters club to antitrust lawsuits, a risk for QP at a time it is planning to invest billions more in the United States.
Even before taking over Qatar’s energy policy in a government reshuffle last month, Qatar Petroleum (QP) CEO Saad al-Kaabi had long wanted the Gulf state to leave OPEC.
Kaabi was concerned OPEC membership could be a stumbling block for QP’s ambitions in the United States, where it has one of the world’s biggest LNG terminals, and a distraction as Doha doubles down on gas production, three industry sources said.
Proposed U.S. legislation known as NOPEC (No Oil Producing and Exporting Cartels Act) could expose members of the oil exporters club to antitrust lawsuits, a risk for QP at a time it is planning to invest billions more in the United States.
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