Speaking during a CEO panel at the start of the LNG2026 conference this week, QatarEnergy CEO and energy minister Saad al-Kaabi emphasized the importance of oil for the state firm, despite its primary focus on gas (MEES, 6 February). “We are looking for oil in Qatar,” says Mr Kaabi, “but in the end there is a limit to what you can do here.” Qatar’s crude oil production is around 600,000 b/d, and it also produces around 750,000 b/d of condensate (MEES, 3 October 2025).
Turning to the firm’s growing portfolio of international assets Mr Kaabi says “everywhere you see exploration blocks that are looking for oil or gas, you will find QatarEnergy working there. We are mostly looking for oil, but we are also growing in gas.” The firm’s international upstream strategy has been to partner overseas with IOCs operating in Qatar. Most recently, it signed a production sharing agreement at Block S4 offshore Guyana (MEES, 21 November 2025) one of the key sources of non-Opec+ oil supply growth in the coming years. (CONTINUED - 171 WORDS)