State of Qatar which became independent in 1970 was part of the
Ottoman State until the end of W.W.I when it became a British protectorate.
Qatar is located in a peninsula in the Gulf bordering Saudi Arabia
and the UAE. It has a total land area of 11,400 square kilometres,
with a population of approximately 550,000. After the Second World
War production of oil and gas started in Qatar on which its economy
is based. Qatar now produces over 65,000 bpd with a revenue of $
3 billion in 1998. Qatar also has a very ambitious programme to
develop its substantial gas reserves. Qatar is also a member of
OPEC. The Qatari Riyal, like most Gulf currencies, is linked to
the US$ at an exchange rate of 3.640 Riyals to the US$.