The Dubai Mercantile Exchange (DME) announced today that Oman’s Ministry of Oil and Gas has become the first customer of its recently launched “DME Auctions” platform.
Opec has said its oil output fell in October and forecast supply from rival producers next year would decline for the first time since 2007 as low prices prompt investment cuts, reducing a global supply glut.
Commemorating Customer Service Week, Oman Oil Marketing Company (omanoil) organized a series of initiatives and visits that aimed to reaffirm the company’s decade-long strategy of ‘caring beyond the pump’.
The World Bank has said it is lowering its 2015 forecast for crude oil prices from 57 dollars per barrel in its July report to 52 dollars per barrel. This is according to the bank’s new Commodity Markets Outlook, a quarterly update on the state of the international commodity markets.
Oman’s top-100 energy sector stakeholders participated in a workshop today to draft and shortlist the most critical recommendations to be included in a 25-year Energy Master Plan, including education reform, that could help set the Sultanate on a sustainable path as an energy consumer and exporter for the coming decades.
The Sultanate of Oman is gearing up to celebrate the 45th National Day, which will give the citizens and residents of the Sultanate an opportunity to express their pride and love for the nation and its great leader His Majesty Sultan Qaboos bin Said.
In a truly unique achievement for the United Power Company (UPC), the company recently announced that their Manah Power Plant located near Nizwa has successfully completed over 7,000 Loss Time Incident (LTI) free days.
Oman’s crude oil and condensates production edged up 0.12 per cent to 29.70 million barrels in September 2015, over the previous month. This is equivalent to an average of 990,030 barrels per day.
The Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has selected London-based Elysian Systems Ltd as the technology provider for its new commodity auction business.