Oman’s new oil discoveries may boost output 50,000-100,000 b/d
Oman seeking to maintain or boost oil output It has 5.2 billion in oil reserves, 24 Tcf of gas reserves Oman, Iran forming technical team for gas pipeline project Oman Continue Reading
EXCLUSIVE Germany, Qatar at odds over terms in talks on LNG supply deal -sources
Germany and Qatar have hit difficulties in talks over long-term liquefied natural gas (LNG) supply deals amid differences over key conditions, including the duration of any contract, three people familiar Continue Reading
Oman data: Monthly oil production rises 12.2% in March amid higher OPEC+ quota
Oman, the biggest Middle East oil producer outside OPEC, increased its total monthly crude production by 12.2% in March from February, official data showed, amid a higher OPEC+ quota. Receive Continue Reading
China Secures Foothold In This Strategic Middle East Oil State
Oman continues to expand its cooperation with China as it looks to build out its petrochemical sector Oman’s options to raise money through conventional bond offerings remain constrained China already Continue Reading
Oman signs land deal for green hydrogen project with India’s ACME, report says
Oman has signed a land reservation agreement for a green hydrogen and ammonia project that Indian company ACME aims to set up in the Special Economic Zone at Duqm, Oman’s Continue Reading
Oman Looks To Make The Most Of Its Dwindling Oil Reserves
Oman is moving full steam ahead with its oil production, establishing a new company for upstream oil and gas. Energy Development Oman (EDO) will have a stake in the majority Continue Reading
Oman Looks To Make The Most Of Its Dwindling Oil Reserves
Oman is moving full steam ahead with its oil production, establishing a new company for upstream oil and gas. Energy Development Oman (EDO) will have a stake in the majority Continue Reading
Oman Looks To Raise $3 Billion Through Its Largest Oil Block
Middle Eastern oil producer Oman is looking to raise $3 billion in a debt issue next year via a new company expected to hold the country’s majority stake in its Continue Reading
This Challenged Gulf Nation Is Betting Big On Natural Gas
Oman has weathered all the innumerable challenges of 2020 with considerable flair, even though the year started off with the untimely passing of Sultan Qaboos, then came the coronavirus pandemic Continue Reading
Oman Faces Tough Choices As Budget Deficit Deepens
Oman is looking at ‘all financing options’ following the lacklustre sale last week of a total US$2 billion bond offering, according to legal sources working with the Sultanate spoken to Continue Reading
This Small Nation Is Building The World’s Next Major Energy Hub
Given the very modest scale of Oman’s hydrocarbons resources (only around five billion barrels of estimated proved oil reserves, barely the 22nd largest in the world) compared to those of Continue Reading
Oman Counters Chinese Influence With Two New Energy Megaprojects
Like many Middle Eastern countries in the catastrophic aftermath of Saudi Arabia’s latest oil price war folly against the U.S. shale sector, Oman has been left in the position of Continue Reading
CNPC In Talks To Buy $1.5-Billion Stake In BP’s Oman Gas Field
Chinese state-held giant China National Petroleum Corporation (CNPC) is in advanced talks to buy a 10-percent stake in a giant natural gas field in Oman from BP in a deal Continue Reading
Gulf Oil Producer Oman Is Quickly Running Out Of Options
Even before the latest Saudi-instigated oil war crashed oil prices, Oman had a budget breakeven price per barrel of Brent of over US$85, with a senior legal source in Abu Continue Reading
Oman Is Desperate For Help As Economy Crumbles
Non-OPEC oil producer Oman has been talking to other countries in the Gulf about potentially receiving financial aid to help its economy and fiscal position which are hit by the Continue Reading
Oman cuts 2020 budget by $1.3 billion: ONA
Oman has reduced its 2020 state budget by 500 million Omani riyals ($1.3 billion), after directing all ministries to reduce development and operating budgets by 10%, according to state-run news Continue Reading
This Non-OPEC Producer Boosted Its Output Ahead Of Historic Deal
Oman increased its crude oil and condensate production in March by nearly 13 percent from February, after the collapse of the OPEC+ deal early last month, according to data from Continue Reading
This Gulf State Faces An Impossible Decision As Oil War Rages On
Given the twin facts that Oman has only around five billion barrels of estimated proved oil reserves (barely the 22 nd largest in the world) but is still dependent on Continue Reading
Oman to increase oil production to maximum 1 million b/d capacity: sources
With OPEC+ production quotas set to expire at month’s end, Oman will be joining its Arab neighbors in ramping up its oil output, even as it slashes its budget to Continue Reading
Oman Looks At Full Oil Industry Overhaul
With a fiscal breakeven oil price of US$87.55 per barrel (pb) of Brent in 2020 and 80 per cent of its revenues still coming directly or indirectly from the hydrocarbons Continue Reading
Oman’s economy contracted 1.9% in first half of 2019: central bank
Oman’s economy contracted by 1.9% in nominal terms in the first half of the year as the non-oil sector shrank, the central bank said on Monday. The Gulf state’s finances Continue Reading
What Explains The Bizarre Price Surge In Oman Crude?
While oil traders have been generally punting to the “November Iran sanctions” as the reason why in recent weeks a bevy of $100 oil forecasts have emerged (even if Goldman Continue Reading
Higher Oil Prices Fail To Stimulate Economic Growth In Gulf States
The higher oil prices and the subsequent higher oil revenues play a part in a significantly improved outlook for the state finances and trade balances of the Arab Gulf countries, Continue Reading
Oman data: Oil output surges to 16-month high
Oman’s crude oil and condensate production in June jumped to its highest in 16 months, another sign that key producers in the Middle East are beginning to pump more oil, Continue Reading
Oman next up for LNG bunkering
Natural gas from onshore basins in Oman could be used to develop a maritime fueling point for liquefied natural gas, French supermajor Total said. The French company signed a memorandum Continue Reading
BP brings shale techniques to Oman to start gas production
British energy company BP said it brought lessons learned from hydraulic fracturing in the United States to start production at a natural gas field in Oman. BP and the Omani Continue Reading
Is This The Newest Nuclear Player In The Middle East?
But some global buyers see an opportunity in the current market crisis. With one of the world’s largest investors this week making a leap into the sector. That’s the sovereign Continue Reading
Oman Supports Organized Oil Production Cuts Beyond March 2018
Oman would support OPEC output cuts past March 2018 to support oil prices, according a new report from The Times of Oman . There was no mention of deeper cuts. Continue Reading
Oman Cut to Junk by S&P as Crude Oil Decline Imperils Finances
Credit rating lowered to one notch below investment grade S&P says Oman can’t mitigate risk of volatile export revenue Oman was cut to junk by S&P Global Ratings, which said Continue Reading
Gulf’s $24 Billion Bond Bonanza Meets Cash Need in Cheap Oil Era
Middle East international bond sales are off to the strongest ever start to a year as borrower demand for funds outstrips the firepower of local banks in an era of Continue Reading
This Non-OPEC Member Just Called For An Extension Of The OPEC Deal
Non-OPEC Oman will continue to cap its crude oil output at 970,000 bpd this year if OPEC and non-OPEC countries were to extend the production cuts through the end of Continue Reading
Are Gulf Oil Producers Falling Into The ‘Venezuela Trap’?
Oman has struck a deal with several banks for a $4 billion loan to be repaid in future oil deliveries. Abu Dhabi signed a contract with commodity trading giant Vitol Continue Reading
Oman Plans to Sell as Much as $2 Billion of Bonds Amid Deficit
Oman, the largest Arab oil producer that’s not an OPEC member, plans to sell between $1.5 billion to $2 billion of bonds internationally in 2017 to plug a deficit caused Continue Reading
Iran eyes natural gas exports to Oman with international oil companies
Senior officials from state-owned National Iranian Gas Exports Co have met with Oman’s oil ministry and three international oil companies — Shell, Total and Korea Gas Corp — to look Continue Reading
BP to use hydraulic fracturing for Oman’s gas
British energy company BP said it extended an agreement in Oman to help develop a natural gas field that may require hydraulic fracturing to exploit fully. BP and Oman Oil Continue Reading
Oman Willing To Cut Up To 10% If OPEC Leads The Way
Small non-OPEC producer Oman believes that an OPEC production deal is now more in sight than it was a few months ago, Omani Minister of Oil and Gas Mohammad bin Continue Reading
Oman says to change Iran gas pipeline route to avoid UAE
Oman’s Oil Minister Mohammad bin Hamad bin Saif al-Rumhi attends during the opening session of the first Gas Exporting Countries Forum (GECF) summit in Doha November 15, 2011. Oman and Continue Reading
Saudi Arabia and Bahrain See Low Oil Price Prompt Ratings Cut
Middle Eastern oil producers including Saudi Arabia and Oman had their ratings downgraded by Moody’s Investors Service because of a collapse in oil prices, according to a statement from the Continue Reading
Oman Offers to Bridge Saudi-Iran Gap in Oil Output Talks
Oman, the biggest non-OPEC oil exporter in the Persian Gulf, offered to narrow differences between Saudi Arabia and Iran that scuttled a planned crude output freeze. Futures fell as much Continue Reading
New Guard Rises in Saudi Arabia as Oil Crisis Forces Rethink
After a year of plunging oil prices, all eyes were on Ibrahim Al-Assaf, Saudi Arabia’s finance minister for two decades, to deliver a budget that could restore confidence in the Continue Reading
Arab States Face $94 Billion Debt Crunch on Oil Slump, HSBC Says
Gulf Cooperation Council countries may struggle to refinance $94 billion of debt in the next two years as the region faces slowing growth, rising rates and rating downgrades, according to Continue Reading
Oman Credit Rating Cut at Moody’s on Negative Oil Price Impact
Oman, the poorest Gulf Arab country on the basis of economic output per person, was cut for the first time by Moody’s Investors Service, which cited the negative impact of Continue Reading
Saudi Rating Gets S&P Jolt as Four Oil-Nation Credits Cut
The negative impact from the plunge in oil prices rippled further throughout crude-producing nations as Standard & Poor’s cut the credit ratings of Saudi Arabia, Oman, Bahrain and Kazakhstan. Saudi Continue Reading
BP Expands Scope of $16 Billion Natural Gas Project in Oman
BP Plc and state-owned Oman Oil Co. agreed to expand an exploration and production sharing agreement of the Khazzan natural gas field to include a second development phase, at an Continue Reading
Venezuela talks oil prices with Qatar, Oman; to meets Saudis
Venezuelan Oil Minister Eulogio Del Pino, on a tour of oil producers to lobby for action to prop up prices, said on Thursday he had a “good and productive” meeting Continue Reading
Bahrain, Oman Cut Gas Subsidies
Bahrain and Oman on Tuesday reduced government subsidies on gasoline, becoming the latest Gulf Arab countries to try to cut back on spending and offset the effect of oil prices, Continue Reading
Oman Advisory Body Approves Corporate Tax Rise as Oil Rout Bites
Oman’s Shura Council voted to hike corporate taxes as the Middle East’s largest oil producer outside of OPEC faces another year of shrinking government revenue. The elected advisory body voted Continue Reading
Gloom descends on Gulf as oil price slump hits economy
A caustic slogan is doing the rounds on social networks in the Gulf states this festive season: “All I want for Christmas is for oil prices to go up.” Gloom Continue Reading
Exports of Oman crude in June outpaces production on surge in China demand
Oman exported more crude oil in June than it produced after trading giant ChinaOil picked up an unprecedented 49 cargoes during the Platts Dubai Market on Close assessment process in April. China, which has been the biggest buyer of Oman crude in recent years, accounted for 90% of the country’s overall crude exports in June, up more than 12% from May, according to data released by Oman’s oil and gas ministry over the weekend. Oman exported 912,015 b/d of crude oil in June — up 11.28% from May — even as its production was only 888,636 b/d, according to government data. In addition to exports, it also supplied 134,366 b/d of crude to domestic refineries, up from 92,534 b/d in May. While China’s share of Oman crude reached a record high, it wasn’t immediately clear where the additional export barrels came from. Traders said the extra crude could be […]
Oman to Build Giant Solar Plant to Extract Oil
A rendering of a solar-thermal facility in the desert. For years, the unforgiving desert of Oman has required special tools to extract some of the planet’s heaviest crude. The Persian Gulf sultanate’s repertoire now includes a technology not generally associated with oil pumping: solar power. One of the world’s largest solar plants will be constructed to coax Oman’s heavy oil out of the ground, according to Oman and its partners, Royal Dutch Shell RDS.A -0.29 % PLC and French energy company Total SA TOT 0.59 % . Called Miraah, which means “mirror” in Arabic, the 1,021 megawatt solar-thermal facility is slated to be completed in 2017 and located at the Amal West oil field in South Oman. The solar plant will be built by Petroleum Development Oman, a joint venture between the Omani government, Shell and Total, and GlassPoint Solar, a Fremont, Calif.-based solar manufacturer. The construction of a […]