Oman’s new LNG bunkering project to be fully solar-powered
MUSCAT: A new LNG bunkering project set to be established at the Port of Sohar will be fuelled entirely by solar energy in the first such renewables-powered venture of its kind in the Middle...
IMF: Manufacturing of complex goods can boost Oman’s economy
Muscat: Oman’s authorities would do well to target the production of more complex goods in support of the country’s economic diversification drive – a strategy that also has the potential to...
Oman eyes accelerated AI deployment in key economic sectors
MUSCAT: Oman’s National Programme for Artificial Intelligence and Advanced Technologies prioritises the deployment of Artificial Intelligence (AI) in driving the development of key economic sectors,...
Tethys Oil to invest over $90 million in Oman upstream assets
MUSCAT: Swedish energy firm Tethys Oil has pledged to invest over $90 million in its upstream assets in the Sultanate of Oman during the current fiscal year. This commitment is roughly on par with its...
Dutch business alliance eyes opportunities in Oman’s hydrogen sector
MUSCAT: Around 30 Dutch companies with business interests spanning the hydrogen value chain have forged an alliance with the goal to target opportunities in the nascent hydrogen industries of the...
Oman’s economic diversification picking up pace: IMF
MUSCAT: Oman’s longstanding drive to diversify its predominantly hydrocarbon-dependent national economy has gained strong impetus in recent years on the back of a combination of landmark legislative...
Power interconnection project to help save 175m litres of diesel annually
MUSCAT: The Rabt interconnection project – a major initiative to link Oman’s standalone grids in the north and south of the country – will result in the closure of as many as 14 diesel-fired...
Oman’s economic recovery has progressed: IMF
MUSCAT: Oman’s economic recovery continues to be broad-based, sustained by impact-driven structural reforms and policies that have yielded positive results in, among other areas, reviving employment...
Oman’s first-ever indigenously designed chips successfully tested abroad
MUSCAT: Marking a new chapter in the growth of a fledgling semiconductor sector in the Sultanate of Oman, a local company aiding this drive has announced the rollout of new project initiatives based...
Oman REIT adds logistics park in new acquisition
MUSCAT: Oman REIT, the first diversified multi-asset Real Estate Investment Trust (REIT) in the Sultanate of Oman, has announced the successful addition of a logistics park to its expanding portfolio...
Pact signed to study potential for solar glass project in Oman
MUSCAT: Leading Canadian energy materials specialist Homerun Resources Inc has announced the signing of a non-binding Memorandum of Understanding (MoU) with Minerals Development Oman (MDO), the...
Mushroom-based protein project to introduce new whole food in Oman
MUSCAT: US-based foodtech startup MycoTechnology, which is partnering with Oman Investment Authority (OIA) in the establishment of a landmark mushroom-based protein project in the Sultanate of Oman,...
Oman’s power demand growth to average 3% annually through 2026: IEA
MUSCAT: Following an unprecedented dip in electricity consumption in 2020, attributable to the economic downturn prevailing at the time compounded further by the pandemic, power demand growth in the...
2,200 km2 of new investment acreage created across Oman
MUSCAT: A total of eight new industrial, economic, and investment zones were initiated for development at key locations across the Sultanate of Oman during 2023, underscoring a new thrust in the...
New cranes to enable handling of mega containerships at Salalah Port
MUSCAT: Port of Salalah announced on Thursday the arrival of an initial batch of high-tech Ship-to-Shore (STS) cranes that, upon their installation and commissioning, will enable the handling of the...
Oman’s new LNG bunkering project set for 2027 launch
MUSCAT: A longstanding plan for the establishment of a renewables-powered liquefied natural gas (LNG) project at the Port of Sohar on Oman’s North Al Batinah coast is set to go ahead with French...
Investments in Khazaen Economic City surpass $1 billion mark
MUSCAT: Khazaen Economic City, an integrated multipurpose hub located on Muscat’s doorstep, has already snagged over $1 billion in project investments as of end-2023 – a milestone that earned it...
Oman eyes negative emission projects to tackle ‘last mile’ gap in Net Zero journey
MUSCAT: The Sultanate of Oman plans to harness an array of ‘Negative Emission Technologies’ to deal with an anticipated 8 per cent gap in its strategy to become a Net Zero economy by 2050.A robust...
CMA Fund caps aid for traffic accident victims at RO 30,000
MUSCAT: The Capital Market Authority (CMA), which regulates the insurance sector in the Sultanate of Oman, has shed new light on a special fund instituted by the Authority to support compensatory...
Array of social projects eligible for sustainable finance in Oman
MUSCAT: Food security projects, affordable housing and emergency response programmes are among numerous “social expenditures” identified by the Omani government that are eligible for funding...