Singapore/London — Qatar has decided to withdraw from OPEC from January 2019, a source at the country's energy ministry told S&P Global Platts on Monday.
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The confirmation from the minister's office came after a tweet from Qatar Petroleum saying that Saad Sherida Al-Kaabi, the country's minister of state for energy affairs, had announced Qatar's withdrawal from OPEC as the country is keen to increasingly focus on gas.
"Qatar announces it was withdrawing from the Organization of Petroleum Exporting Countries "OPEC" effective 1 January 2019," the tweet said.
"The withdrawal decision reflects Qatar's desire to focus its efforts on plans to develop and increase its natural gas production from 77 million mt/year to 110 million mt/year in the coming years," it added.
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