Gulf Oil and Gas accountACCOUNT

Qatar to Withdraw from OPEC in January 2019

Source: www.gulfoilandgas.com 12/3/2018, Location: Middle East

The OPEC Secretary General, His Excellency Mohammad Sanusi Barkindo, has today received a letter from the State of Qatar giving notice of its intention to withdraw from its Membership of OPEC, pursuant to Article 8 of the OPEC Statute, with effect from 1 January 2019.

The letter from His Excellency Saad Sherida Al-Kaabi, Qatar’s Minister of State for Energy Affairs, also expressed sincere appreciation to OPEC Member Countries, the OPEC Secretary General and all OPEC staff.

Every Member Country has the sovereign right to withdraw from the Organization and this requires no approval from the OPEC Conference. The Organization respects the decision taken by the State of Qatar.

The OPEC Secretariat expresses thanks to the State of Qatar for its support of the Organization over the many decades of its Membership.

In the past three years, OPEC has seen Gabon (2016) rejoin the Organization and welcomed new members, Equatorial Guinea (2017) and the Republic of the Congo (2018). OPEC appreciates the continued interest of producers wanting to join the Organization.

OPEC remains fully committed to achieving and sustaining balance and stability in the market, through the Organization, and with the landmark ‘Declaration of Cooperation’, alongside 10 participating non-OPEC countries.

Oil News in Qatar >>

China >>  1/2/2019 - Royal Dutch Shell's (RDS.A, RDS.B) Chinese unit has obtained a license to independently trade oil products on the domestic wholesale oil market, S&P G...
Iran >>  1/2/2019 - Iranian President Hassan Rouhani said the US would not reach its goals to prevent Iran’s oil exports. Addressing the government cabinet meeting on Wed...

Iraq >>  12/26/2018 - Exports from Iraq’s northern Kirkuk oilfields to the Turkish port of Ceyhan will stay at between 80-90,000 barrels per day (bpd) as most of the crude ...
Nigeria >>  12/20/2018 - Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plung...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


Qatar Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.