Category: News

BP Oman Khazzaan
Petrofac awarded $800mn contract for Khazzan gas project

Petrofac has been awarded a lump-sum contract worth approximately $800 million by BP for the Phase 2 central processing facility (CPF) at the Khazzan Phase 2 (Ghazeer) gas development in the Sultanate. This follows the $1.4 billion Phase 1 CPF Khazzan project, awarded to Petrofac in February 2014, which celebrated first gas on September 22, […]

Glass Point
Aera Energy, Glasspoint to build California’s largest solar project

GlassPoint Solar, the leading supplier of solar energy to the oil industry, has partnered with oil and gas producer, Aera Energy, to build one of the largest solar energy projects in the United States. The integrated solar project will be the first of its kind in the world to use solar steam and solar electricity […]

National Life 3
National Life shares listed on Muscat bourse

The shares of Oman’s largest insurer National Life and General Insurance Company SAOC (NLGIC) got listed on Wednesday on Muscat Securities Market (MSM). The listing ceremony took place at 10am with S. Venkatachalam, CEO, NLGIC and Ahmed Saleh Al Mahroon, director general of Muscat Securities Market officiating the bell ceremony. The company launched its IPO […]

Foundation stone laid for bus manufacturing project in Duqm SEZ

    The foundation stone for Karwa Motors project, a strategic partnership project between Oman and Qatar, was laid in Duqm Special Economic Zone on Thursday, under the patronage of HE Yahya bin Saeed Al Jabri, chairman of the Special Economic Zone Authority at Duqm (SEZAD).  Also gracing the event with their presence were    Khalid […]

CBO raises RO63mn from treasury bills

Oman’s central bank raised OMR63 million from treasury bills. the treasury bills are with a maturity period of 28 days, from November 29 (Wednesday) until December 27, 2017. The average accepted price reached 99.918 for every OMR100 while the minimum accepted price arrived at 99.905 per OMR100. The average discount rate and the average yield […]

Oman’s crude oil exports ease to 245m barrels

Oman’s crude oil exports fell by 8.7 per cent to 245.19 million barrels in the first 10 months of 2017, down from 268.68 million barrels in the same period last year. According to official statistics released by the National Centre for Statistics and Information (NCSI), the Sultanate produced 294.88 million barrels of crude oil and […]

GCC region to have $130bn completed real estate projects in 2017

The regional construction market has remained resilient, showing a 30 per cent increase in 2017-to-date, according to a new study by Mena Research Partners (MRP), a leading research company in the region. With total Gulf Cooperation Council (GCC) active projects valued at some $2.6 trillion — equivalent to 160 per cent of gross domestic product […]

National Finance, Oman Orix sign framework agreement ahead of merger

National Finance Company and Oman Orix Leasing Company have signed a framework agreement for the proposed merger between the two leasing firms. The final merger agreement will be signed after the merger plan is approved by the shareholders of the company at an extraordinary general meeting, National Finance said in a disclosure statement posted on […]

CBO to issue RO150mn in development bonds

The Central Bank of Oman (CBO) has announced the new issue of government development bonds (GDB). The size of the new bonds issue is fixed at RO150mn with a maturity period of seven years and will carry a coupon rate of 5.25 per cent per annum, according to an Oman News Agency report. The 55th […]

Oman Development Bank finances 1,388 projects in Masirah

Oman Development Bank (ODB) has financed 1,388 projects in Masirah by extending funds worth OMR5.73 million between 2009 and September 2017. Youssef bin Ibrahim Al Shezawy, Regional director of ODB for South Al Sharqiyah, said that the number of micro-projects that were financed reached 1,315, with a total amount of OMR4.10 million, which represents 95 […]