Category: Zighlights

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 […]

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. […]

News
Topaz
Topaz reports $115mn revenue in first half 2017

Topaz Energy and Marine (Topaz), a leading offshore support vessel company and a subsidiary of Renaissance Services, has reported revenues of $115.6 million for the first half of 2017. While revenues for the six months ending on June 30, 2017 were $115.6 million, this represented a 23 per cent downturn, compared with the same period […]

ECONOMY
Customs begins services at Al Mazunah Free Zone Story Picture
Directorate General of Customs begins services at Al Mazunah Free Zone

The Directorate General of Customs has started providing services to investors, traders and operating companies at the Al Mazunah Free Zone from the beginning of this month. The services are provided at the customs area, which was prepared by the free zone as per the requirements in terms of gates, customs inspection, and electronic scales, […]

News
soharport-
InfoFort drives digital transformation at Sohar Port and Freezone

InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, on Tuesday announced the implementation of an electronic document management system and digitisation of the physical records at the Sohar Port and Freezone in the Sultanate of Oman. With global investments of $25 billion, the deep-sea port and […]

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 […]

News
Omantel net profit rises by nine per cent
Omantel to acquire minority stake in Kuwait’s Zain for RO326mn

Oman Telecommunications Company (Omantel) has agreed to acquire a minority stake in Kuwait’s Zain group for OMR325.6 million. Omantel, the Sultanate’s biggest telecommunications service provider, has signed a share purchase agreement with Kuwaiti Mobile Telecommunications Company (popularly known as Zain group) for purchasing 425.7 million treasury shares or a 9.84 per cent stake in the […]

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
SME
Boosting SME funding

Sharakah introduces some changes in funding scheme by increasing the fund limit to RO350,000, in addition to reducing the interest rate and increasing the credit period for its bill discounting scheme Fund for Development of Youth Projects (Sharakah) has recently announced some changes in their funding schemes, increasing the fund limit from RO200,000 to RO350,000, […]