Oman | Egypt Oil & Gas - Part 24
Oman Expanding Crude Storage Capacity for Dubai Futures
The Oman Tank Terminal Company (OTTCO) is building a storage project with a 25m barrel capacity at Ras Markaz to be opened in 2019.
Oman Eager to Cut Oil Production under OPEC Initiative
Oman announced that it is ready to cut oil output by 5% to 10% to buoy up oil prices if OPEC and non-OPEC members took the initiative. Oman’s Crude Production, Exports On Rise
Oman’s production of crude oil and condensates in December 2015 rose in total by 1.12%, compared to November 2015, based on figures released in the Ministry of Oil and Gas’s monthly report.
Oman Takes Long-Awaited Fuel Price Reforms
Oman has announced it will rise gasoline prices as of mid January. The move has been ascribed to the impact of persistently low oil prices.
Oman Preparing Region’s First Electricity Spot Market
The Oman Power and Water Procurement Company (OPWP), a member of Nama group, is making preparations for the establishment of a spot market system for electricity trading in the Sultanate, the first of its kind in the ... Oman Adopts Austerity Budget Boosting Non-Oil Revenues
Oman has adopted an austerity budget for 2016 with a projected deficit of $8.6b in order to tackle the 50% decline in state revenue by introducing economic diversification, increasing non-oil revenues, and encouragin ...
Mitsui Consortium Awarded $2.3b Omani Power Plant Project
Japan's Mitsui & Co announced that its consortium had been awarded a $2.3b power plant project in Oman, to build 3.15GW gas-fired combined cycle power generation units for Ibri and Sohar-3 projects.
Nebras Power Seeks to Enter Omani Market with Acquisition
Qatar-based Nebras Power is seeking to expand its investments in Oman and has announced plans to acquire Qatar Electricity and Water Company’s (QEWC) stake in Phoenix Power Company that owns and runs one of the large ...
