author - oman observer

MUSCAT: Swedish upstream energy firm Tethys Oil says its exploration and appraisal activities during 2023 are targeted at unlocking more than 200 million barrels of potential crude oil (mmbo) deposits...

MUSCAT: The total net profits for listed companies on Muscat Stock Exchange (MSX) increased by 16.2% in 2022 to $1.7 billion compared with $1.4 billion in 2021 following higher profits for the banking...

International ratings agency, Fitch, has revised the outlook on Oman's long-term foreign-currency Issuer Default Rating (IDR) from stable to positive and has affirmed the rating at 'BB'.The positive...

Forbes Middle East has revealed its ranking of the Middle East’s most valuable banks for 2023, recognising the region’s biggest banking heavyweights. Four Omani banks make among the list of the 50...

MUSCAT, APRIL 4Minerals Development Oman (MDO), the state-owned mining and minerals processing flagship of the Sultanate of Oman, is making strides in fulfilling its vision of becoming the benchmark...

The price of Oman crude surged more than 8.4 per cent on Monday to $84.11 per barrel as the Organisation of the Petroleum Exporting Countries and their allies (Opec+), including the Sultanate of Oman,...

MUSCAT, MARCH 26The Sultanate of Oman is offering three oil and gas concession areas, Blocks 15, 36 and 54, for investments by local and international local companies, the Ministry of Energy and...

MUSCAT, MARCH 26The Sultanate of Oman is ranked sixth in MENA region in the 2023 Economic Freedom Index published by the Heritage Foundation, Washington’s No.1 think-tank.“Economic freedom is the...

Oman’s Bahwan Services and Trading LLC (BSTL) and Muscat Investment House (MIH) have entered into a strategic partnership with Singapore-based Blue Aqua International with the goal to “support the...

The price of Oman crude declined a further $4.58 per barrel on Monday to settle at $70.35 per barrel (for delivery in May 2023) in trading on the Dubai Mercantile Exchange (DME).Over the past seven...

The Sultanate of Oman has attracted RO 79 million worth of actual investments for six fish farming projects last year, Dr Abdulaziz bin Said al Marzouqi, Director General of Fish Resources Development...

MUSCAT, MARCH 18Swedish upstream oil and gas company Maha Energy (Maha) has announced that it has commenced production testing on Block 70 in Oman. The production test will include all eight new...

The Duqm Refinery project, the largest project in the field of refineries and petrochemicals, is expected to come into full production by the end of 2023, Kuwait Petroleum Corporation’s deputy...

Australian-based submarine cable development specialist SUB.CO announced that it will expand its Oman Australia Cable (OAC) with a new branch unit in Salalah.About 1,200 kilometres of new cable will...

Muscat: International ratings agency Fitch said the market share of Oman’s Islamic banking sector is expected to rise steadily this year, driven by sizeable public demand for Islamic products,...

The Philippines lone gypsum board manufacturer, Knauf Gypsum Philippines, filed a petition to the Philippines’ Tariff Commission seeking exemption from the three per cent tariff on the importation...

MUSCAT, FEB 26Oman’s oldest joint venture, the Vietnam-Oman Investment (VOI), is investing at least $30 million in F88 — a financial services firm based in Hanoi.Founded in 2013, F88 is the...

The Sultanate of Oman is projected to have a 1.9% consumer price index (CPI) for 2023 — the lowest in the GCC region — according to the latest report by Kamco Invest. CPI is the most well-known...

MUSCAT, FEB 20Oman Flour Mills (OFM), a major player in the country’s food sector, expects to receive a 35,000 MT of wheat from Australia this month as a result of a contract signed in November last...

The Sultanate of Oman received yet another feather in its cap with the capital city, Muscat, topping the list of the most affordable capital cities when comparing property price to income, according...