Category: INDUSTRY

ECONOMY
Oman Oil Korean Subsidiary
Oman Oil’s subsidiary completes phase IV of Korean power project

GS EPS Co, a joint independent power producer associate of Oman Oil Company (OOC), and GS Holdings has completed the construction of Phase IV, 900 megawatt (MW) combined cycle power plant powered by directly imported LNG. The ceremony was held with the presence of Mohamed Al Harthy, Ambassador of the Sultanate of Oman to the […]

Insurance companies achieve RO135mn premium income in Q1

Oman’s insurance companies have achieved a 3 per cent growth in gross direct premium at OMR134.7 million in the first quarter of 2017, against OMR131 million for the same period of last year. The Omani insurance market continued recording reasonable growth rates compared to the economic situation despite the financial measures undertaken to mitigate the […]

ECONOMY
Duqm Refinery Amec Foster
Duqm Refinery inks a project management contract with Amec Foster Wheeler

Duqm Refinery signed an agreement with AMEC Foster Wheeler Engineering Consultancy LLC (AFW) for providing project management services during the construction phase of its 230,000 barrels per day-capacity refinery. AFW’s scope of work includes project management contractor services to be delivered as part of an Integrated Project Management Team (IPMT), according to a company release. […]

ECONOMY
Wind Farm
Masdar signs EPC contract for wind farm in Oman

Abu Dhabi’s renewable energy company, Masdar, signed an Engineering, Procurement and Construction (EPC) contract with a global consortium comprising GE and Spain’s TSK to build the Dhofar Wind Power Project, the first large-scale wind farm in Oman and the GCC. The Dhofar Wind Power Project is a result of the joint development agreement that was […]

Bank Sohar shareholders approve floating of OMR100m bonds

Bank Sohar held an Extraordinary General Meeting (EGM) on August 13, with an attendance rate of 88.7 per cent from the bank’s total shareholders. The EGM was headed by Abdullah Humaid Al Mamary, chairman of the Board of Directors of Bank Sohar, along with shareholders, members of the Board and the executive management of Bank […]

Banking & Finance
CMA
CBO approves merger between National Finance and Oman Orix

National Finance Company and Oman Orix Leasing Company have received in-principle approvals from the Central Bank of Oman for their proposed merger. However, it is subject to approvals from shareholders of both firms and final approval from regulatory authorities, according to disclosure statements posted by both companies on the Muscat Securities Market (MSM) website. National […]

Energy
PDO_Oman LNG
PDO signs collaboration deal with Oman LNG

Petroleum Development Oman (PDO) and Oman Liquefied National Gas (Oman LNG) have signed a three-year partnership agreement to enhance technical and commercial co-operation. The collaboration is a consolidation of efforts in relation to staff development and capacity building, where both companies will share knowledge and exchange expertise in various disciplines across the oil and gas […]

ECONOMY
Duqm Refinery
Oman Wanfang plans 25 new projects in Duqm

Oman Wanfang, which is the master developer of China Oman Industrial Park in Duqm, plans to develop 25 new projects, which will take the total number of projects within the industrial park to 35. The proposed 25 projects are in the final stage of studies or in the design stage, said Ali Shah, chief executive […]

Banking & Finance
OAB
OAB launches unified digital banking platform

Oman Arab Bank (OAB) on Monday launched its new unified digital banking platform with an all-new simplified interface used across all digital channels including Internet, ATM, and the new mobile banking application. The bank also announced the launch of its new mobile banking application, which uses the same innovative icon-based design, offering the OAB customers […]

COMPANIES
SevenSeas_CEO
Fuelling growth

Within a short span of time, Seven Seas Petroleum Group has grown into a full-fledged supply and service company with diversified presence in different industry segments in Oman, UAE and Qatar. Excerpts from an interview with Managing Director, Shuayb K Al Suleimany Can you give us a brief on the Seven Seas Petroleum and its […]