QP surpasses Rosneft, ExxonMobil in total output
Data compiled by Bloomberg shows that Qatar's vast natural gas reserves have ensured that QP is able to pump more oil and gas than Russia's Rosneft or America's ExxonMobil Corp
Qatar Petroleum (QP) has overtaken Rosneft and ExxonMobil in total output, according to data compiled by Bloomberg, and the company makes and sells more LNG than any other.
The country’s colossal natural gas resources allow the state-run company to pump more oil and gas than Russia’s Rosneft or America’s ExxonMobil Corp.
By more than doubling gas and oil production since 2006, Qatar has become the world’s fourth-biggest energy supplier and wealthiest country by per capita income.
By 2006, Qatar was the biggest exporter of liquefied natural gas, and it shipped 78mn tonnes in 2015, or 32% of global supply that year, according to the International Group of Liquefied Natural Gas Importers.
Qatar Petroleum, through its LNG-producing divisions Qatargas and RasGas and other investments in related businesses, holds stakes in the companies that extract, process, ship and receive gas.
This integrated supply chain helps make Qatari LNG the cheapest in the world to produce.
RasGas, QP’s joint venture with Exxon that will be merged with Qatargas this year, has two plants with capacity of 2 billion cubic feet per year, and it’s building a third facility.