Qatar Oil: Production, Reserves & Role in the Market
Qatar produces about 1.30 million barrels of crude per day (2025) and holds ~25.2 billion barrels of proven reserves (#14 worldwide). Qatar quit OPEC in 2019 to focus fully on natural gas — it now produces relatively little crude oil but sits atop one of the world's largest gas fields, making it a top LNG exporter alongside the US and Australia.
Key Figures
| Measure | Value | As of / source |
|---|---|---|
| Crude production (#15 of tracked) | 1.30 Mb/d | 2025 · EIA |
| Proven reserves (#14 worldwide) | 25.2 Bn bbl | 2023 · OPEC Annual Statistical Bulletin |
| OPEC membership | Withdrew January 1, 2019, to focus resources on gas rather than a small oil quota | Qatar Petroleum statement |
| Key gas asset | North Field — shared with Iran's South Pars, one of the largest gas fields in the world | |
| National company | QatarEnergy | |
| LNG expansion | North Field LNG capacity expanding toward roughly 126 million tonnes/year by 2027 | QatarEnergy |
Rankings and comparisons: world production & consumption · reserves by country · biggest oil companies.
Qatar's Pivot to Gas
Why Qatar left OPEC
- Qatar's oil quota within OPEC was always small relative to Gulf neighbors, while its gas ambitions were enormous — leaving OPEC let it pursue LNG expansion without oil-focused production constraints.
- Qatar remains part of OPEC+ discussions informally through its gas-market weight, but is not bound by OPEC crude quotas.
- Its crude and condensate output today is a byproduct of gas production from the North Field rather than a standalone business.
What to watch
- North Field LNG expansion phases (North Field East and North Field South), which will keep raising Qatar's gas — not oil — export volumes.
- Long-term LNG supply contracts with buyers in Asia and Europe, which shape Qatar's energy diplomacy more than any oil metric.
- Condensate output, which moves with gas production rather than independent oil-field decisions.
- Recovery of the two liquefaction trains (about 12.8 million tonnes/year of capacity) struck during the 2026 Iran war — see LNG exporters by country for how that compares with the rest of the world's export capacity.
Oil Companies Operating in Qatar
| Company | Type | Ownership |
|---|---|---|
| ConocoPhillips | Integrated major | Publicly traded; no controlling shareholder. |
| ExxonMobil | Integrated major | Publicly traded; no controlling shareholder. |
| QatarEnergy | National oil company (state-owned or state-controlled) | Wholly owned by the Government of Qatar. |
From the oil company directory: companies with material producing operations here or headquartered here, hand-curated from company filings.
Qatar Oil FAQ
How much oil does Qatar produce?
Qatar produces about 1.30 million barrels per day of crude oil (including lease condensate, 2025), ranking #15 among the countries tracked here. Source: EIA international statistics.
How much oil does Qatar have in reserves?
Qatar holds roughly 25.2 billion barrels of proven crude reserves (OPEC Annual Statistical Bulletin, 2023), the #14 largest in the world. Proven reserves shift with prices and technology — see the caveats on the oil-reserves page.
Why did Qatar leave OPEC?
Qatar Petroleum said in December 2018 that it wanted to focus its resources and diplomatic energy on natural gas and LNG rather than compete for a comparatively small OPEC oil quota, formally withdrawing from OPEC on January 1, 2019 after 57 years of membership.
Does Qatar still produce crude oil?
Yes, but modestly — around 1.3 million barrels a day, mostly condensate and light oil produced alongside natural gas from fields like the North Field. Gas and LNG, not crude, are now Qatar's dominant hydrocarbon business and the larger share of export revenue.
Which oil companies operate in Qatar?
The oil company directory lists ConocoPhillips, ExxonMobil, QatarEnergy with producing operations in Qatar. See the directory for who owns each company and which basins it works.