QatarEnergy’s Profits Surge Nearly 60% Amid Energy Crisis

Qatar’s national oil company, QatarEnergy, recorded a 58% jump in net income in 2022 to reach a record 154.6 billion riyals ($42.4 billion) amid the global energy crisis. The company mainly benefitted from higher gas prices, with prices 40% higher in 2022 than the previous year. Qatar harbors big natural gas ambitions. Last week,  QatarEnergy’s President and CEO, Al-Kaabi, declared that a full 40% of all new LNG that will come to the global market by 2029 will be from Qatar. “Gas will always be needed as the cleanest fossil…