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 ...
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.
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 ...
Oman's top advisory body, the Shura Council, has voted for the biggest increase in corporate taxes in many years aimed at offsetting a budget deficit over oil price slump.
GE Oil & Gas has won two contracts from Petroleum Development Oman (PDO) for the supply, testing, installation, and commissioning of a fleet of electric motor-driven centrifugal compressors.
Oman Oil Marketing Company has been permitted to launch its feasibility study to determine the scope of its potential investment in the operation of fuel filling stations, and fuel services centers in Saudi Arabia.
Oman Oil's exploration and production division mulls investments worth $4 billion over the next five years to boost its oil output up to 200,000b/d in 2020.
UAE's Dolphin Energy Ltd., an Abu Dhabi-controlled venture, providing 2cf/d of gas from Qatar to Oman and the UAE, has secured a 15-year long bank loan of $863m.