Business - oman observer

Friday, March 13, 2026 | Ramadan 23, 1447 H
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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI
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Omani crude closes at a record high of $144.36
Sri Lanka to repatriate remains of 84 Iranians sailors killed in US attack
Oil holds above $100, stocks fall as Iran targets Hormuz
Some SalamAir, Oman Air destinations continue to be suspended
Two expats dead, several injured in Suhar drone attack
Refueling aircraft crashes in Iraq: US military
Oman condemns attacks on the Iranian territories
Iranian supreme leader calls for defiance
The programme aims to accelerate digital transformation across the economy and supports eight strategic area.
Digital economy contributes RO 800m to Oman’s GDP

MUSCAT: Oman’s digital economy is emerging as a significant driver of economic growth and diversification, with its direct contribution reaching around RO 800 million in 2023, according to a new report issued by the Ministry of Transport, Communications and Information Technology (MoTCIT).The report, titled “The Harvest of the Digital Economy in the Sultanate of...
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Oil market faces ‘biggest supply hole in history’
The Northern CCUS Ecosystem is one of three strategic CCUS hubs envisioned as part of the country’s Net-Zero journey.

OQGN advances feasibility study of Northern Oman CCUS hub
A drone view of a pump jack and drilling rig south of Midland, Texas, US June 11, 2025. REUTERS/Eli Hartman Purchase Licensing Rights, opens new tab.

Brent nears $100 as attacks at sea rise
German airline Lufthansa with the company's logo at the international Frankfurt Airport, Frankfurt am Main, western Germany. — AFP

ME war to brake German recovery: institute
A view of the Repsol oil refinery in A Coruna, northwestern Spain. — AFP

Oil shock ‘largest supply disruption’ in history: IEA
A risk manager works on the trading floor at IG Index in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett/File Photo Purchase Licensing Rights, opens new tab

Wall Street turns to security advisers on Iran risks
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Citi closes most UAE branches temporarily as banks evacuate offices in region
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Oman crude surges to $134.75 amid global oil market turmoil
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Oil tops $100 as Iran attacks offset IEA stockpile release
The Iran war has driven up energy prices, shipping costs and inflation risks, largely because disruptions around the Strait of Hormuz.

State owned ratings stable if Iran conflict is brief
A view of a pump jack and drilling rig south of Midland, Texas. — Reuters

Oil shrugs potential IEA reserves release
The platform was developed to streamline access to public services through a single digital gateway.

Unified government services portal draws 285,000 users in first year
According to traders, Totsa sold April-loading Oman crude to ExxonMobil at a premium of more than $20 per barrel above Dubai benchmark quotes.

TotalEnergies sells Oman crude at record premium
Labourers rest in front of an advertisement of Reliance Industries Limited at a construction site in Mumbai, India. — Reuters

Trump announces new US refinery backed by India's Reliance
3D-printed oil pump jack and barrels in front of a rising stock graph appear in this illustration. — Reuters

IEA to recommend record release of strategic oil stocks
Trending Stories
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HM receives condolence cables on demise of Sayyid Fahad

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GCC Secretary-General Offers Condolences on Passing of HH Sayyid Fahad

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HM receives relephone call from German President

Rights groups urge FIFA to ensure inclusive World Cup

Aston Villa's Ollie Watkins celebrates scoring their first goal

Watkins goal earns Villa win at Lille, Bologna and Roma draw

Daniil Medvedev (RUS) during his quarterfinal match as he defeated Jack Draper (GBR)

Alcaraz sets up Medvedev Indian Wells semi-final, Sabalenka and Rybakina advance

Lease a Bike's Danish rider Jonas Vingegaard celebrates as he crosses crossing the finish

Vingegaard soloes to victory in Paris-Nice fifth stage

Sweden's Armand Duplantis in action and sets a new world record of 6.31m v

Duplantis clears 6.31m to set 15th pole vault world record

BUSINESS VIDEOS
Economy
A risk manager works on the trading floor at IG Index in London, Britain August 25, 2015. REUTERS/Suzanne Plunkett/File Photo Purchase Licensing Rights, opens new tab

Wall Street turns to security advisers on Iran risks

WASHINGTON/NEW YORK— Wall Street firms are increasingly turning to former military and national security officials for guidance as the Iran conflict raises fresh uncertainty over oil prices, shipping routes and broader market stability.The trend...

The Iran war has driven up energy prices, shipping costs and inflation risks, largely because disruptions around the Strait of Hormuz.
State owned ratings stable if Iran conflict is brief
The platform was developed to streamline access to public services through a single digital gateway.
Unified government services portal draws 285,000 users in first year
3D-printed oil pump jack and barrels in front of a rising stock graph appear in this illustration. — Reuters

IEA to recommend record release of strategic oil stocks
The programme aims to accelerate digital transformation across the economy and supports eight strategic area.

Digital economy contributes RO 800m to Oman’s GDP
The authorities highlighted a range of streamlined procedures aimed at enhancing trade flows and strengthening supply chain efficiency across the region.

Oman strengthens role as trade gateway in GCC
Opinion
Mohammed Al Balushi
Mohammed Al Balushi Gulf strategy to reduce dependence on Strait of Hormuz
Jim Tankersley
Jim Tankersley How Trump’s war with Iran changed the world in a week
Gavin ⁠ Maguire
Gavin ⁠ Maguire Is Europe's gas demand recovery derailed?
Markets

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Oil tops $100 as Iran attacks offset IEA stockpile release

Iran war pushes Indian rupee towards a perfect storm

Crude falls on IEA proposing the biggest oil release

Maersk suspends two shipping services

A fuel tank was subject to an incident: OOMCO

Banking

The workshop focused on global trends in climate finance, priority investment sectors in the Sultanate of Oman.

Oman Banks build climate finance skills

CBO issues guidelines for 'Buy Now, Pay Later' service

FSA warns unlicensed audit firms

Use of national currency in ads needs approval: CBO

Moody’s revises Oman’s banking sector outlook to stable

Energy

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Omani crude closes at a record high of $144.36

Oil holds above $100, stocks fall as Iran targets Hormuz

Oil market faces ‘biggest supply hole in history’

OQGN advances feasibility study of Northern Oman CCUS hub

Brent nears $100 as attacks at sea rise

Aviation
German airline Lufthansa with the company's logo at the international Frankfurt Airport, Frankfurt am Main, western Germany. — AFP

ME war to brake German recovery: institute

FRANKFURT: The surge in energy prices triggered by the Middle East war will slow the struggling German economy's recovery, an economic institute warned on Thursday.Energy costs have jumped since...
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US FAA grounds all JetBlue flights: advisory

OmanSat-1 is scheduled for launch in September 2028, with operations commencing in May 2029.

US firm wins Airbus contract for Oman satellite project

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CAA announces rules on drone sales in Oman

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Oman Air developing low-cost travel model: Minister of Transport

ENTREPRENEURS
Oil market faces ‘biggest supply hole in history’

The oil market is moving beyond a simple price rally and into a period of real physical disruption, as tanker attacks, infrastructure damage, and shipping risks ripple across crude flows and global fuel supply.Government...

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OQGN advances feasibility study of Northern Oman CCUS hub

Brent nears $100 as attacks at sea rise

Oil shock ‘largest supply disruption’ in history: IEA
Property
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LEO Development announces real estate projects in Duqm, Muscat
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Al Mina Waterfront development is 65% complete
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New OCCI headquarters to come up in Madinat al Irfan
Tourism

The licences were granted after companies met the requirements of the regulations governing the establishment, management and operation of marine piers outside ports.

12 licences issued for operating marine piers

Tourism on hold as war casts uncertainty

Winter surge lifts tourism revenues

Musandam reviews development gains, plans

Neem Camp promotes experiential tourism in Nizwa

Promotional campaigns boost tourism revenues and visitor numbers

MICE tourism yields RO 16m return as Oman targets high-spending delegates

Cars

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In Kentucky, people blame Ford for lost factory jobs

US carmaker Ford reports heavy losses

Toyota names new CEO, hikes profit forecasts

Stellantis plunges on $27 billion bill for EV pullback

Tesla profit slumps, but investors may not care

India to slash tariffs on cars to 40% in EU trade deal

Sony Honda unveils prototype EV

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