Category: INDUSTRY

Industry
Sohar Port inks $600mn oil storage contract with Trescorp

Sohar Port has signed a $600mn oil storage contract with Singapore-based Trescorp. The new facility will have six deep-water berths, with 25 metre drafts, one of them capable of receiving very large crude carriers (VLCCs) of up to 320,000 deadweight tonnage (dwt) — the so-called supertankers. The new terminal will occupy space in Sohar Port […]

COMPANIES
Shell Oman celebrates Shell Eco-marathon 2017 teams

Shell Oman organised a special ceremony to recognise the student teams that represented Oman in Shell Eco-marathon Asia 2017, which was held in Singapore earlier this year. The ceremony was held under the auspices of HH Sayyida Dr Mona bint Fahd al Said, assistant vice-chancellor for international cooperation, Sultan Qaboos University. The teams from Sultan […]

ECONOMY
OOCEP closes $1bn pre-export finance facility

Oman Oil Company Exploration & Production (OOCEP) has announced the successful signing of a $1bn loan facility to fund its continued growth and expansion. The new financing agreement is structured as a crude oil pre-export facility with a tenor of five years and contains an accordion option to allow additional funding of $500mn if required. […]

TELECOM
Omantel launches automated self-service cloud portal

Omantel has announced that it is launching an automated self-service cloud platform along with its cloud services subsidiary - Oman Data Park (ODP) - for customers to purchase virtual infrastructure and applications as well as automatically configure them. This offering is a step ahead of the current-generation of static services such as web hosting, domain hosting […]

Energy
BP launches new season of social investment programme

Representatives from the partner organisations of BP Oman’s $5 million Social Investment Programme on Sunday attended the launch of the new season of the programme. Eng. Yousuf Al Ojaili, President of BP Oman, attended the event and gave the welcoming remarks to the partners at a ceremony, held in Knowledge Oasis Muscat (KOM). BP Oman […]

Banking & Finance
Alizz Islamic Bank to finance expansion of Gutech facility

Alizz Islamic Bank has signed an agreement with Oman Educational Services (OES) to finance the expansion of German University of Technology in Oman (GUtech)’s facilities and student accommodation. OES is the owner company of GUtech. As per the agreement, the financing facilities will be used for the construction of an additional academic building at GUtech […]

Banking & Finance
Bank credit volume exceeds RO20bn till June 2017

The total bank credit of commercial banks in the Sultanate by the end of June 2017 stood at RO20,108.6mn  compared to RO19,348.1mn during the same period of 2016, comprising an increase of 3.9 per cent. The Statistical Quarterly Bulletin issued by the Research and Statistics Department of the Central Bank of Oman (CBO) said that the personal […]

COMPANIES
PDO-backed drilling equipment factory opens in Nizwa

A new PDO-backed factory which will manufacture key well equipment for the oil and gas industry has been officially opened in Nizwa. The Omani company Gulf Energy established the Fishing & Remedial Experts Enterprise (FREE) facility which is set to create up to 70 jobs for nationals. PDO has signed a 10-year contract with FREE […]

Banking & Finance
Oman-India Business Connect Forum highlights investment opportunities

 ‘Oman-India Business Connect Forum’, hosted by Meethaq, the Islamic banking window of Bank Muscat, spotlighted investment opportunities for Indian investors in Oman as well as new possibilities and collaborations in Islamic banking and finance vis-à-vis the investment opportunities in Oman. Organised against the backdrop of Oman’s strategic economic diversification programme and the emergence of Islamic […]

FEATURES
Tapping tourism potential

The Sultanate’s beautiful landscapes and diverse tourism options capture the hearts of Omanis and tourists alike   A country of breathtaking natural beauty interwoven with a kaleidoscope of history, legends and adventures, the Sultanate of Oman has tourism destinations that suit the taste of different categories of tourists and visitors. The Sultanate presents opportunities to […]