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Currency
Exchange
The monetary unit in Qatar is the Qatari
Riyal, which is divided into 100 Dirhams.
The currency is issued by Qatar Central
Bank and available in the following
denominations:
1 Riyal, 5 Riyal, 10 Riyal, 50 Riyal,
100 Riyal and 500 Riyal.
The coins are 25 Dirhams and 50 Dirhams.
The QR/US$ exchange rate is fixed
at 3.65 Foreign currency can be
exchanged without any restrictions at
any bank, Doha International Airport
and exchange dealers. |
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Petroleum
and Gas:
Oil was discovered in Qatar in the 1930s
and first exported in 1949. Onshore
oilfields are around Dukhan on the west
coast. The main offshore are to the
north east and east. The country has
the largest single known natural gas
field in the world, and the world's
third largest gas reserves and has a
thriving - and growing - petrochemicals
industry based on these hydrocarbon
reserves.
In just decades Qatar has developed
as a major global supplier of energy
and is set to become the largest exporter
of LNG in the world and a world leader
in Gas-to-Liquids production.
The government of Qatar carries on its
efforts to improve its production and
reservoir potentials through the continued
efforts to develop onshore and offshore
fields like Al-Shaheen, Al-Idd Al-Sharqi,
Dukhan and Al-Khaleej fields.
It likewise works to develop the gas
sector of which reservoir is estimated
at 380,000 billion cubic feet, which
makes Qatar the top third country in
the world in gas reservoir after Iran
and Russia. Aspiring to be one of the
biggest exporters of gas in the world,
Qatar inaugurated Ras Laffan Corporation
for natural gas and Qatar Liquefied
Gas Corporation, which started production
three years ago. A further accomplishment
is related to building Ras Laffan port,
which is considered the biggest port
for gas exportation in the whole world.
This was associated with parallel accomplishments
in the infrastructure and procurement
of giant gas transporters.
In the fields of marketing, the State
of Qatar works persistently to merchandise
gas products. As a result, it has signed
long-term agreements with Japan, Korea,
and the Indian Petronet Establishment,
which purchased about 7.5 million metric
tons of liquefied gas. It has similarly
signed a primary agreement with the
Taiwanese Tong-Teng to provide it with
1.8 million metric tons of liquefied
gas for 25 years. |
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