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Monday, May 19, 2025 | Dhu al-Qaadah 20, 1446 H
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Economy

Oman extends Area 53 oil concession to 2050, unlocking $30 billion investment

BUSINESS REPORTERMUSCAT, MAY 18The Ministry of Energy and Minerals has signed an agreement to extend the Concession Area 53 license until 2050 with Occidental Mukhaizna and its consortium partners: OQ Exploration and...

This strategic move aims to ensure the continued development of the Mahzaina oil field.

Semiconductor design hub launched in Oman

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Oman LNG signs LNG optimisation pact with Vitol Asia

The agreement, commencing in 2026, entails optimizing up to 0.8 MTPA of LNG.

Pact signed to jointly develop hydrogen transport network

OQGN and Fluxys aim to fast-track the rollout of hydrogen transport systems to support Oman’s clean energy ambitions.

Omantel reports RO 3 billion revenue, expands tech strategy

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Road projects with RO 920 million underway across Oman

The Ministry is simultaneously supervising maintenance work on asphalt roads in various governorates.

OIA companies repay RO 1.8 bn of debt in 2024

OIA highlighted its role in achieving the national agenda across various fields, with a particular focus on developing Oman’s human capital.

US and China reach deal to slash tariffs, officials say

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Oman’s biggest polymer project set for Q1 2026 launch

Illustrative design of ZL EOR’s project at Sohar Port and Free Zone

RO 77m to elevate Shinas Port into logistics hub

The upgrade will boost Shinas port’s total area to 1.8 million m2

Workshop reviews Foreign Capital Investment Law

The workshop addressed key challenges and opportunities associated with the implementation of the law.

China's consumption slide deepens as tariff war bites

China's exports rose last month despite the trade war, official data showed Friday, an unexpected development attributed by experts to a re-routing of trade to Southeast Asia to mitigate US tariffs. — Reuters

Abrupt solar subsidy changes can destabilise power markets

Ivan Faucheux, Commissioner at the French Energy Regulatory Commission, with fellow panelists at the ERRA Annual Conference in Muscat last week

Trump says he’s OK with taxing the rich but warns of political fallout

U.S. President Donald Trump looks on as he gives remarks outside the West Wing at the White House in Washington, DC, US. — Reuters

Challenges facing the Foreign Capital Investment Law discussed

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Canada's unemployment rate jumps to 6.9 per cent

A cyclist rides past the Bank of Canada building in Ottawa, Ontario, Canada. - Reuters
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