Qatar announces that it is withdrawing from OPEC in January 2019, after almost 60 years of membership, to focus on natural gas production.
Country to leave cartel in January 2019, but will take part in this week’s meeting
- The Guardian (Image)
- Qatar announces that it is withdrawing from OPEC after 60-years of membership in January 2019 to focus on natural gas production.
- Qatar announces that it is withdrawing from OPEC in January 2019, after almost 60 years of membership, to focus on natural gas production.
- Ministers from natural gas exporting countries such as Russia, Kazakhstan and Iran meet in Doha, Qatar, prompting speculation that they might be looking at transforming the Gas Exporting Countries Forum into a cartel similar to OPEC.
- The meeting in Doha, Qatar, of the world's top oil producers, from both OPEC and non-OPEC countries, fails to agree on an output freeze. Oil analysts say the failure was due to Iran's non-participation, and Saudi Arabia linking its cooperation to Iran's inclusion. Oil prices drop in early Asian trading and on the New York Mercantile Exchange.
- Members of OPEC meet in Doha, Qatar, amid uncertainty in the markets and the outcome of the meeting. Since 2014, the price of oil has dropped dramatically. Analysts hope that an agreement to freeze output will reassure global energy markets that the recent recovery in prices is sustainable.
- Chiyoda Corp. and Technip SA win a 500-billion Yen contract to build two LNG (liquefied natural gas) facilities in Qatar.
- Bahrain's Court of Appeal rules that the former leader of the now outlawed Al-Wefaq party, Sheikh Ali Salman, will receive a life sentence over his conviction for 2011 spying for Qatar.