The country's state oil producer, Qatar Petroleum, is slashing 30% of its spending this year due to the downturn. Qatar Petroleum is a state-owned petroleum company in Qatar. "And hopefully the demand should pick up slowly with people coming out of quarantines all over the world, the lockdowns and especially the movement of transportation in general, mass transportation, airlines taking off again and so on. The company said on Tuesday Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. 6m 1y 5y 10y 15y 20y. So, I think there will be some change in our attitude about whether it's business traveling or working from home," al-Kaabi said.This month marks three years since Qatar was first put under an economic and diplomatic blockade imposed by its neighbors Saudi Arabia, Bahrain, Egypt and the United Arab Emirates.The tiny gas-rich monarchy has expanded its trade relations in the years since after the action effectively cut its access to an estimated 60% of the goods it imported. The blockading countries charge Qatar of supporting terrorism, which the Qataris deny. Qatar Petroleum is a state-owned petroleum company in Qatar. No affiliation or endorsement, express or implied, is provided by their use.

On or around May 6, 2020, Qatar Petroleum signed three offshore Mexico farm-in agreements to acquire 30% of France-based Total’s participating interest in blocks 15, 33, and 34 in the Campeche basin in Mexico. The call to open the taps on oil production pulled the floor from under the market as Saudi Arabia slashed its selling prices and increased production after Russia refused to join its plan to further cut output and boost prices in early March. The countries have yet to make diplomatic amends.Got a confidential news tip?

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"So there is a shortage of that coordination in the beginning of the year, now I think it's much better," he said. Crude Oil (petroleum) Monthly Price - UAE Dirham per Barrel. The company operates all oil and gas activities in Qatar, including exploration, production, refining, transport, and storage.

SWFI is a minority-owned organization. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.Flooding the oil market was a 'very big mistake,' says Qatari energy minister If that's the case, then we'll see a much quicker recovery, maybe in six months to a year.

PMN Business; Qatar plans change in crude oil official selling prices in Q1 2020 -sources Description: Crude oil, average spot price of Brent, Dubai and West Texas Intermediate, equally weighed. We want to hear from you.Sign up for free newsletters and get more CNBC delivered to your inboxGet this delivered to your inbox, and more info about our products and services.

The indexation of Russian LNG is 11.5 per cent. The oil offshore blocks are within 30 to 90 kilometers of the giant Cantarell and KMZ oilfields.We'll deliver the most current and interesting sovereign wealth and financial news straight to your inbox© 2008-2020 Sovereign Wealth Fund Institute. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. Crude Oil is produced from various on-shore and off-shore oilfields in Qatar and marketed by QPSPP under Ministerial Directive of the Minister of Energy and Industry dated 8 October 2017. Still, he warned the coronavirus could have "some long-lasting effects" on travel and means of doing business.

The total area covered by the blocks is approximately 2,300 square kilometers. And we saw, you know, negative pricing in The markets were already being devastated by the crushing drop in demand due to global coronavirus lockdowns. Data is a real-time snapshot *Data is delayed at least 15 minutes. Monthly crude oil price average for Brent 2019-2020 Monthly average crude oil prices of the OPEC basket 2019-2020 Latin America: proved crude oil reserves 2019, by country