Oman Energy

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Despite ongoing economic pressures associated with the drop in oil prices, Oman’s diversification strategy and efforts to enhance wider revenue streams are beginning to bear fruit, as witnessed by continued growth in the non-oil sector despite dropping incomes and wider regional instability.

Government plans to increase the country’s generation capacity and upgrade its transmission network look set to spur further growth in Oman’s utilities sector, against a backdrop of subsidy rationalisation.

Bucking global hydrocarbons trends, Oman is moving ahead with substantial investment across its upstream and downstream oil and gas industry.

 

July 2015 was a time of mixed feelings for the Omani oil industry. On the one hand, there was celebration, as the sultanate broke the 1m barrels per day (bpd) mark for the first time in its history, with average production for the month exceeding the key benchmark. On the other hand, there was disappointment, because this milestone had been...

 

Companies working in Oman’s oil and gas sector are currently adjusting their operations in line with a government scheme aimed at making more of the extractive industry’s potential to benefit the broader national economy. The scheme, known as the ICV Blueprint Strategy, was unveiled in late 2013 and builds on previous successful practices to...

 

Two forthcoming infrastructure investments are set to substantially broaden the Omani downstream gas sector, creating opportunities for new export markets and new domestic industries. The two projects, which will see an estimated $3.6bn of investment, will be based at either end of the country. The first, a liquefied petroleum gas plant to be...