Qatar plans to produce 500k bpd oil outside its borders by 2023: MEED

Qatar is planning to produce 500,000 barrels of oil outside its borders by 2030, MEED reported citing QatarEnergy’s CEO.

Moreover, the country is committed to maintaining its oil production at 650,000 barrels per day, the longest possible, Saad Sherida Al-Kaabi said.

Qatar, which joined the Organization of the Petroleum Exporting Countries nearly 60 years ago, ended its membership in a surprise announcement in December 2018.

Al-Kaabi indicated that he did not regret Qatar's decision to leave OPEC.

Qatar has no voice in the group of oil-producing countries due to its relative size, he explained.