Qatar's growing role as a mediator in international conflicts has opened up business opportunities for it. The report focused on a role Qatar recently played in mediating between the United States and Venezuela that led to Washington's freezing of economic sanctions on Caracas.
For more than a year, Doha has hosted talks between senior U.S. and Venezuelan officials that last month eased U.S. sanctions on the Latin American country years ago.
The newspaper said the mediation order helped a Qatari private company strike a preliminary agreement to restart a Caribbean oil refinery to process Venezuelan oil.
It is noteworthy that Washington announced last month the easing of sanctions imposed on Venezuela, in response to the agreement of the government and opposition in that country to hold presidential elections in 2024.
U.S. Deputy Secretary of the Treasury Brian Nelson said in an earlier statement that in accordance with U.S. sanctions policy and in response to these democratic developments, the Treasury Department has authorized transactions related to Venezuela's oil and gas sector, as well as the gold sector.
Days after the deal was reached, a private Qatari oil company owned by Ghanim Bin Saad & Sons Group signed a preliminary agreement to restart an oil refinery and terminal on the Dutch Caribbean island of Curaçao, just 64 kilometers off the coast of Venezuela.
Venezuela's national oil industry, which has huge oil and gas reserves, offers significant investment opportunities that attract major global energy companies.
Andreas Craig, a professor of security studies at King's College London who follows Qatari diplomacy, said, "What Qatar is trying to do is create interdependence, which makes the United States and other major countries dependent on it and cannot do without it."
The Gulf state already enjoys trade ties with Latin American oil and gas producers, such as Mexico, Brazil and Argentina, which supports Qatar's economy.
Doha-based Oryx, owned by Ghanim Bin Saad & Sons Group, is exploring less visited regional destinations, targeting financially distressed energy assets. The company already has a presence in Caracas and Barbados.