QatarEnergy Profits Drop 70% in First Half
Qiyas summary
QatarEnergy's profits fell by 70% in the first half of this year.
Translated by Qiyas from النهار — Original source
QatarEnergy’s half-year profits fell by approximately 70% in the first half of this year, dropping to 15.1 billion riyals due to reduced production and exports caused by the war in the region. These developments impacted Qatar’s exports of liquefied natural gas (LNG), which declined by about 90% between April and the end of September compared to the same period last year, prompting customers in Asia and Europe to seek alternative supplies. The pressure was not limited to profits; the company’s total borrowing rose to 81.7 billion riyals, up from 51.3 billion riyals at the end of last year.
