The Rise of Qatar Petroleum 

Raking in a huge US$478 billion in 2015, there’s no arguing with the fact that Aramco is the biggest oil producer on the planet. But that’s not to say other companies aren’t challenging its reign.

Owned and operated by the pint-sized Gulf kingdom, state-owned oil and gas company Qatar Petroleum (QP) is rapidly gaining momentum. Until now, the company has avoided the limelight, with Bloomberg’s Mohammed Sergie criticising QP for hiding “in the shadow of Aramco.”

But now, Qatar Petroleum is ramping up its game. Since 2006, the company has more than doubled its oil and gas production. In 2015, total oil, gas and condensate output soared to a record 5.17 million barrels of oil a day. This makes Qatar Petroleum the world’s fourth biggest hydrocarbons producer, surpassing the likes of Russian giants like Rosneft.

Qatar Petroleum sitting on a gas goldmine

Its success is partly thanks to the fact that it’s sitting on the world’s third-largest gas reserve, housing an estimated 24.3 trillion cubic meters. This goldmine of gas has allowed it to emerge as the largest exporter of LNG in the world. Now, Qatar Petroleum has unveiled plans to merge its two LNG subsidiaries, and churn out a huge 77 million tons of LNG a year.

Though despite its success in navigating the volatile oil and gas landscape, the kingdom hasn’t managed to outrun the price crisis completely. It’s currently struggling with oil field depletion, and has also failed to pin down any lucrative new discoveries over the past few months. This meant that in January, Qatar Petroleum produced an average 615,000 bpd, down from a high of 880,000 bpd in 2008.

Growth fuelled by Qatar Investment Authority

So what’s next for Qatar Petroleum? Bloomberg experts report that the oil and gas giant will continue to flex its muscles, and use its cash reserves to fund a major international expansion. The money would come from the Qatar Investment Authority, the kingdom’s sovereign wealth fund that exists to support the national economy, and champion international investments.

Its most recent feat it’s the acquisition of a 19.5% interest in Rosneft, in conjunction with Glencore. Cash was also used to help Qatar Petroleum join an international consortium for a major Pakistani LNG project, backed by majors like Exxon, Total, Mitsubishi, and Norwegian Hoegh.

With cash to splash and a glut of reserves under its belt, Qatar Petroleum is well on-track to emerging from the shadows, and stepping up as a bona fide ‘Big Oil’ rival.

Behind any major expansion is a huge amount of research, both in lab and on field. For a closer look at the latest technologies surpassing traditional gas chromatography, ‘Ultrafast GC Brings Speed, Space-Savings, Better IT, Easier Use, and Energy Savings to the Lab, the Process and Everywhere Else’ offers expert insight.