Category: Industry

ECONOMY
Duqm Developement Company
Duqm Development Company signs agreement with India’s Adani Ports

  A Memorandum of Understanding (MoU) was recently signed by the Duqm Development Company SAOC (Tatweer) with India’s Adani Ports and Special Economic Zone Limited in New Delhi. The agreement is aimed at exploring better investment opportunities in the Special Economic Zone at Duqm. The pact also stipulates on setting an official and framework for […]

Industry
Port Sohar
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 […]

ECONOMY
Eng. Isam Al Zadjali, Chief Executive Officer of Oman Oil Company
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. […]

COMPANIES
PDO 1
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 […]

COMPANIES
AIWA-sep-low-1
BEST PERFORMING COMPANIES HOG LIMELIGHT AT AIWA AWARDS 2017

The traditional industry leaders and fast growing younger companies walked away as winners in the annual AIWA Awards for Best Performing Companies, held on August 28. This year marked the seventh edition of the annual AIWA Awards. Top five best performing companies, based on their performance on select seven financial parameters in the financial year […]

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 […]

ECONOMY
soharport-
Sohar port breaks container volume record

Despite on-going issues in the maritime industry and the continued lull in global oil prices, container volumes at Sohar port in the second quarter of 2017 grew by 11 per cent from the same quarter last year, as Sohar emerges as one of the region’s prime logistical hubs. Dry bulk cargo also grew significantly at […]

ECONOMY
PDO 2
PDO signs research and development deals with Omani universities

Petroleum Development Oman (PDO) has signed research and development agreements with Sohar and Al Sharqiyah Universities to help resolve some of its complex technical challenges. It is hoped the memorandums of understanding (MoUs) will help PDO further develop its competitive delivery by reducing costs, increasing production and reserves while operating in a safer and greener environment. […]

ECONOMY
Oma Budget
Total budget expenditure down by 5.8 per cent

Oman’s total budget expenditure fell by 5.8 per cent to RO12,908.2mn in 2016, according to the Central Bank of Oman’s (CBO’s) annual report. As the cut in expenditure fell short of the decline in revenues, the fiscal deficit stood at RO5,300mn in 2016, compared with RO4,361.4mn in 2015 (fiscal deficit as a percentage to GDP […]

Industry
raysut-cement-3q16-financial-results_
Raysut Cement to sell its stake in Oman Portuguese Cement Products

Raysut Cement is planning to sell its entire stake in Sohar-based Oman Portuguese Cement Products Co to Opal Development Co,  says the company in its first quarter financial report. Salalah-based Raysut Cement owns a 50 per cent shareholding in Oman Portuguese Cement from 2011. An extraordinary general meeting (EGM) of Raysut Cement shareholders scheduled for July 25 is […]