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OIL
QatarEnergy awarded contracts for the third phase of development of its offshore Al-Shaheen oil field, the nation’s largest, according to Platts Jan. 31.
- This would boost production at the field by 100k b/d, increasing Qatar’s total capacity by around 17%.
- The third phase is expected to first produce oil by 2027, with a total production of 500m bbl of oil over five years, according to QatarEnergy.
- QatarEnergy will produce 580k b/d of oil in Q1 2024, according to Platts estimates.
- Al Shaheen crude has 2.4% sulphur content and an API gravity of 28, making it a medium sour grade.
- Qatar is not a member of OPEC after leaving the group in January 2019.
Source: S&P Global Commodity Insights
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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