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).
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.
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.
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 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).
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.
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 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.