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QP drops GTL plan on costs
- Qatar: Wednesday, February 21 - 2007 at 08:52
Qatar Petroleum and ExxonMobil will not go ahead with a gas-to-liquids plant due to a costs blowout, Reuters reported. The estimated cost of the Exxon/QP GTL scheme has risen from an initial budget of $7bn to as high as $18bn. The plant was to have produced 154,000 bpd. Other GTL projects are not threatened, according to the minister of energy and industry.
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