BUSINESS NEWS

Oman’s electricity demand to surpass 9,400MW by 2025

Oman’s electricity demand to surpass 9,400MW by 2025
Muscat - 

Electricity demand in Oman is likely to grow at a brisk rate over the next five year to cross over 9,400MW by 2025, according to the seven-year statement released by Oman Power and Water Procurement Company (OPWP).

Sultanate to host oil congress, exhibition from September 2-4

Muscat - 

Oman is going to host the 10th annual World Heavy Oil Congress & Exhibition (WHOC) at the Oman Convention & Exhibition Centre from September 2-4. To be held under the patronage of the Ministry of Oil and Gas (MoG), the event will see participation of 80 companies from abroad.

Gas production starts at Rabab Harweel Integrated Project

Gas production starts at Rabab Harweel Integrated Project
Muscat - 

UK-based oil field services provider, Petrofac, has announced that the gas production from six sour wells in Petroleum Development Oman’s Rabab Harweel Integrated Project (RHIP), which is considered as one of the country’s most important gas fields, has commenced. 

SFZ signs $2.5bn pact to construct Salalah refinery

SFZ signs $2.5bn pact to construct Salalah refinery
Muscat - 

Salalah Free Zone (SFZ) has  signed a usufruct agreement for the construction of Salalah refinery project having a production capacity of 150,000 barrels per day. The total investment envisaged for the project is around US$2.5bn.

Conventional banks provide RO19bn credit to private firms

Conventional banks provide RO19bn credit to private firms
Muscat - 

Conventional banks witnessed a growth in credit disbursement for the month ending May 2019, year-on-year basis, as the total outstanding amount went up by of 5.5 per cent. During the month, the credit provided by banks to the private sector also increased by 2.7 per cent to RO19bn, indicating a revival in economic growth, according to the data by Central Bank of Oman (CBO).

One-stop-station operational at Al Mazunah Free Zone

Muscat - 

The Public Establishment for Industrial Estates (Madayn) on Saturday announced that the one-stop-station service at its Al Mazunah Free Zone has officially started operations. ‘Business owners and investors can now have access to a set of services related to investment activities which will be implemented within a period of not more than three hours,’ Madayn said.

OOMCO net profit down by 20.2% in H1

OOMCO net profit down by 20.2% in H1

Muscat - 

Oman Oil Marketing Company’s (OOMCO) group net profit for the first six months of the current year fell by over 20 per cent to RO3.183mn, the fuel retailer said in a filing to the Muscat Securities Market (MSM) on Tuesday.

Oman plans two solar projects with 1.1GW combined capacity

Oman plans two solar projects with 1.1GW combined capacity

Muscat - 

Oman Power and Water Procurement Co (OPWP), the sultanate’s sole procurer of electricity and water, has invited proposals for developing two solar projects with a combined capacity of around 1.1GW.



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A fairytale adventure

Take six random people from around the world, from the US to Thailand. Ask them to pack their bags and be ready to jump on a flight without knowing when, to where and with whom. Just before boarding, reveal the destination: Sultanate of Oman. Let the adventure start.