Qatar plans to increase oil output by 10%

Baku. 21 June. REPORT.AZ/ In next 5-7 years, volume of oil production of Qatar Petroleum will grow by 10% or 400,000 barrels per day. Report informs referring to Reuters, head of the company Saed Sherida al-Kaabi said in an interview with Al Jazeera.

He noted that this will contribute to development of a new field in the north of country. According to al-Kaabi, Qatar is ready to "always remain in siege", and this will not affect the functioning of its oil and gas industry. Despite the boycott, country imports everything necessary, and the "main loser" as a result of the conflict will be the Dubai port of Jebel Ali. He also stressed, total volume of foreign investment in Qatar's oil and gas industry is about 250 billion rials (68 billion dollars), and investors from the country will not leave, and any interruptions in Qatar gas production will affect many countries at many levels.

Report informs, as a result of embargo, US-dollar exchange rate in the country two days ago reached 3,6813 rials, updating the record of the last 15 years. Now, dollar rate is 3,675 rials. Notably, historical maximum of the dollar was 3.75 rials, which is only 2% higher than current level.