• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 7 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days The United States produced more crude oil than any nation, at any time.
  • 9 days e-truck insanity
  • 5 days How Far Have We Really Gotten With Alternative Energy
  • 9 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 8 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 8 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 9 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 9 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 13 days Bankruptcy in the Industry
Armenia's Shift West Draws Ire from Moscow and Baku

Armenia's Shift West Draws Ire from Moscow and Baku

The European Union and United…

The Rise and Fall of Master Limited Partnerships

The Rise and Fall of Master Limited Partnerships

Master limited partnerships (MLPs) were…

Qatar To Boost Public Spending On The Back Of Higher Oil And Gas Revenues

Qatar, one of the largest exporters of liquefied natural gas (LNG) in the world, is expected to boost public spending this year on the back of higher oil and gas revenues and a conservative assumption of 2022 oil prices in its budget, Oxford Economics says in a report cited by Gulf Times.

Qatar, like other major energy exporters in the Middle East, is set to benefit from the higher oil and gas prices in 2022, Oxford Economics says.

Qatar has adopted a budget for 2022 assuming an average oil price of $55 per barrel this year, well below the expectations of many analysts and forecasters who expect oil to average around $70 a barrel.

Qatar’s non-energy sector is also rapidly expanding and expects a positive 2022 performance.  

“Firms also remained positive regarding the outlook for 2022, linked to business opportunities arising from the FIFA World Cup and new regional markets opening up to its products,” said Yousuf Mohamed Al-Jaida, Chief Executive Officer, Qatar Financial Centre (QFC) Authority, in the Purchasing Managers’ Index (PMI) survey published by IHS Markit earlier this week. 

According to Oxford Economics, the Gulf Cooperation Council (GCC)—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE—will be one of only two major regions globally, the other being ASEAN, to grow faster—at a rate of more than 5 percent—in 2022 compared to last year, provided the Omicron variant does not prove too disruptive.

Gulf oil producers are expected to see their economies grow faster than previously predicted after oil prices recovered in 2021 and global oil demand is close to reaching pre-pandemic levels within months.

The six major Middle Eastern oil and gas producers part of the GCC are set to book faster economic growth in 2022 than previously expected, if oil prices don’t pull back significantly this year, a Reuters poll showed in October. 

ADVERTISEMENT

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News