One of the biggest liquefied natural gas (LNG) producers in the world, Qatar’s state-owned QatarEnergy, had a 58% increase in net profit in 2018 compared to 2021, as shown in the corporation’s financial report.
QatarEnergy’s earnings jumped from 97.9 billion riyals ($26.88 billion) to 154.6 billion riyals ($42.46 billion) under international financial reporting standards. Earnings from associate participation and joint ventures contributed to the increase in profits.
In 2022, QatarEnergy reported revenue of 189 billion riyals ($51.9 billion), a rise of 68.7 billion riyals ($18.87 billion) over the previous year. Net operating income from share in associate earnings increased from 645.8 million to 1 billion riyals ($177.37 million to $274.65 million), and profits from share in joint venture – from 52.4 billion to 82.6 billion riyals ($14.4 billion to $22.69 billion).
source: bloomberg.com
