The sultanate’s continuing efforts to boost extraction, develop greenfields and refine its processing capacity are largely intended to support trade links that ultimately see the vast majority of its oil consumed far afield from Oman itself. According to data from the National Centre for Statistics and Information (NCSI), of the 265.5m barrels...
The oil and gas sector is responsible for much of Oman’s economic growth and government revenue, thus changes in the industry tend to reflect greatly on the sultanate’s overall development. Although recent years have seen progress towards diversification goals, hydrocarbons activity still attracts a large share of domestic and foreign...
In April 2018 the foundation was laid for one of the sultanate’s largest engineering ventures – the $7bn integrated refinery at Duqm. Indeed, according to industry media, its construction will account for some 8% of Oman’s entire GDP in the years preceding its completion in 2022. The refinery will form a key part of the country’s overall oil...
Oman has made some major moves to diversify its energy mix, as indicated by the commissioning of new renewable energy (RE) projects. The sultanate has set a precedent by bringing RE into the oil and gas upstream via new innovative schemes.
The recent period of low global oil and gas prices has led to an increased incentivisation to streamline and rationalise the hydrocarbons sector’s administrative and corporate structures. Oman is a key player in this attempt to streamline, and recently there has been significant merging and rebranding of organisations that have traditionally...
