Qatar’s oil and gas revenues rise 67% in H1 of 2022

The revenues of the oil and gas sector in Qatar increased 67 percent in the first half of 2021, official numbers showed Thursday.

Data released from the Ministry of Finance showed that oil and gas revenues increased to QR 117.6 billion ($32 billion), compared to 70.4 billion riyals ($19 billion) in the first half of 2021. 

The figure helped the country reach a budget surplus of QR47.3 billion, compared to QR 4 billion in the first half of last year. A total of QR 33.7 billion of the surplus was recorded in the second quarter.

Total revenues achieved, during the first half of this year, reached QR 150.7 billion, with QR 85.7 billion coming in the second quarter, and QR 65 billion in the first. There was a total of QR 33.1 billion of non-oil revenues, with QR 27.5 billion coming in the second quarter of the year and QR 5.6 billion in the first.

Total expenditures amounted to QR103.4 billion during the first half of 2022, distributed over QR 52 billion during the second quarter and QR 51.4 billion during the first quarter, of which QR 32.9 billion were salaries and wages. The first half of the year saw QR35.1 billion spent on major projects.