Qatar Petroleum while confirming the withdrawal, tweeted, "Qatar announces it was withdrawing from the Organisation of Petroleum Exporting Countries effective 1 January 2019."
Ras Laffan Liquefied Natural Gas Co Ltd (RasGas) of Qatar has pulled out of state-run National Thermal Power Corporation's tender for supply of 3 million tonnes of LNG for its power plants.
The prospect of further falls in remittances is a hindrance for the Reserve Bank of India, as it seeks to bullet-proof the economy against sudden capital outflows