Oil production to commence shortly from Al Jumd field in Block 56
@JmObserver - Tethys Oil, a Swedish oil company which has interests in the Sultanate of Oman’s Blocks 3 and 4, Block 49, Block 56 and Block 58, announces that oil production is expected to...
China accounts for 79 per cent of Omani crude exports
@JmObserver - Global economic power China retained its position as a top destination of Omani oil exports, with 79.1 per cent of total crude exports, the Ministry of Energy and Minerals said in a...
PDO integrates asset monitoring of 75 sites
Petroleum Development Oman (PDO), the country’s largest oil and gas producer, says it is integrating its entire asset monitoring system with the creation of an Integrated Operations Centre (IOC)....
Oman’s oil exports to Japan records 172% growth
Oman's oil exports to Japan recorded a remarkable growth of 172.1 per cent to reach 9.21 million barrels until the end-September, compared to the same period last year. It increased by 801,500 barrels...
GCC set to post first fiscal surplus in 7 years
@JmObserver - With the rise in crude prices globally, the GCC economies are expected to turn positive their fiscal balance after seven years in 2022 at 7.3% of GDP followed by 6.0% of GDP in 2023,...
OQ Chemicals, Röhm break ground on new plant
OQ Chemicals, a wholly owned subsidiary of OQ — the Sultanate’s integrated energy group — and Röhm, a leading MMA producer and portfolio company of Advent International, officially broke ground...
Oman Chromite invests in low-carbon ferrochrome plant in Suhar
Publicly traded Oman Chromite Company SAOG (Oman Chromite), in a filing to the Capital Market Authority (CMA), has announced the signing of a purchase agreement worth RO 500,000 for a 20 per cent...
OIA explores investment opportunities in Riyadh
The Oman Investment Authority (OIA) participated in the sixth edition of the Future Investment Initiative (FII) held last week in Riyadh, Saudi Arabia. During the event, OIA held a meeting with a...
Oman records lowest inflation rate in GCC
The Sultanate of Oman recorded the lowest inflation rate in the Gulf Cooperation Council countries during September 2022. The inflation rate in Oman increased by 2.4 per cent year-on-year (y-o-y)...
Tethys Oil produces 900,491 barrels in Q3
@JmObserver - Tethys Oil, a Swedish oil company which holds interests in the Sultanate of Oman’s Blocks 3 and 4, Block 49, Block 56 and Block 58, announces that its share of production from Blocks...
The Sustainable City - Yiti: Paving the way towards Oman Vision 2040
Against a backdrop of heatwaves and droughts in certain parts of the world, and record rainfall and devastating floods in others, a one-billion-dollar development in Oman is literally building a...
$300 million Oman-Australia cable switched on
@JmObserver - The Oman-Australia Cable (OAC) — a 9,800 kilometre subsea cable manufactured and installed by SUB.CO that links the Sultanate of Oman to Western Australia — was officially switched...
Bank Muscat sells stake in SICO Capital
@JmObserver - Bank Muscat sold its 27.29 per cent stake in Saudi-based SICO Capital to Bahrain-based investment bank SICO BSC for a consideration of RO 1.95 million.In a disclosure submitted to...
Fall in refinery products and petroleum industries in 9M 2022
The total refinery products and petroleum industries in the Sultanate of Oman fell by 4.5% at the end of September compared to the same period last year, and auto fuel production fell by...
Revenues of local banks reach RO 930.8 million for 9M 2022
The total revenues of local banks listed on the Muscat Stock Exchange (MSX) for the first nine months of 2022 reach RO 930.8 million as compared to RO 861.1 million during the same period last year....
Oman's e-fisheries platform expands into Saudi Arabia
@JmObserver - Boosted by its success since the launch of its bidding website in 2020, Behar —Oman’s first fisheries e-platform — has signed an agreement with Al Fahda Development and...
Pact to establish Oman’s first hyperscale cloud region
@JmObserver - The Government of the Sultanate of Oman will implement a second Oracle Dedicated Region Cloud@Customer to help meet national data sovereignty requirements and establish a comprehensive...
Opec+ decision on output cut to help stabilise markets: Oman
@JmObserver - The Sultanate of Oman, represented by the Ministry of Energy and Minerals (MEM), supports the decision of Opec+ to cut oil production as agreed this month. The statement was made on...
Total value of GCC contract awards reach $11.1 billion in Q3
The total value of GCC contracts awarded during Q3 2022 year-on-year (y-o-y) reached $11.1 billion, a decline of 40.8 per cent as compared to $18.8 billion in awards during the same period in 2021,...
Oman records highest progress in Global Food Security Index
@JmObserver - The Sultanate of Oman recorded the highest global progress in its score of 71.2 — a +13.8 net change in overall score in 2022 versus 2012 — in Global Food Security Index (GFSI)...