Rising condensate is more than replacing Qatar’s crude output fall, which has dropped from a peak of around 860,000 b/d in early 2008 to about 735,000 b/d.
Condensate output received a boost from Doha’s strategy to focus on gas and diversify into petrochemicals, gas-to-liquids (GTL), LNG, NGLs and pipeline gas. Gas and its derivatives provide more hydrocarbon revenue than crude. State-owned Qatar Petroleum (QP) has boosted condensate exports, which have the advantage of not being included in OPEC quotas, to about 500,000 b/d. (CONTINUED - 575 WORDS)