Industry DP World unit signs 50-year deal to develop UAE-Oman free zone A DP World unit has signed a 50-year deal to develop an economic free zone between the UAE and Oman. Mahdah Development Company, a UAE-Omani joint venture led by DP World, is working with Oman’s Public Authority for Special Economic Zones and Free Zones (Opaz) to develop the first phase of the Al Rawdah zone. […] May 27, 2025
Trade Oman’s trade faces Q1 headwinds as oil exports fall Oman’s total foreign trade in the first quarter of 2025 declined by 10.4 percent year on year to $14.7 billion, dragged down by a 16 percent drop in oil and gas exports. Oil and gas exports fell to $9.6 billion in the first three months of this year, from $11.4 billion the same time last […] May 27, 2025
Tourism Oman awards $600m contracts for tourism projects Oman has awarded contracts worth more than $600 million to build three tourist resorts and an adventure park as it steps up efforts to compete with its Gulf neighbours for hospitality revenue and create jobs for its citizens. “This is another important milestone to attract more tourists in the country and property investors as part […] May 26, 2025
Banking and Finance Oman bank loans reach two-year high Omani bank loans rose to their highest in two years in March, raising speculation that local banks might borrow more from abroad as lending growth outpaces deposits. Figures released by the Central Bank of Oman (CBO) saw loans rise almost 9 percent year on year to OR33.4 billion ($87 billion) in March. Personal loans, which […] May 26, 2025
Oil & Gas Oman seeks exploration bids for new oil field State-run Petroleum Development Oman (PDO) is seeking bids for a new oil exploration block in the north of the country. The 130 sq km block 6, located in the Ghaba basin, has estimated reserves of more than one billion barrels of crude, the company said in a post on social messaging platform X. The final […] May 23, 2025
Infrastructure Oman borrows $630m to construct flood defences Oman is to borrow $630 million from the Saudi Arabia-based Islamic Development Bank (IDB) to build flood protection gates and dams across the country. “The loan will help the protection from floods causing damage to many parts of Oman’s low lying areas, especially in towns and small villages,” Al Habsi was quoted as saying by […] May 22, 2025
Oil & Gas Rising costs at OQ Gas Networks trim first-quarter profit Net profit at state-owned OQ Gas Networks (OQGN), the pipeline subsidiary of Oman energy major OQ, dropped by 7 percent in the first three months of 2025, as the company was hit by higher operating costs. Net income fell to OR12.6 million ($33 million) in the year to March 31. Total expenses in the same […] May 22, 2025
Analysis Mining Loans help reignite Oman’s ambitions in copper mining Oman was once called Magan – 3,000 years ago when Mesopotamian texts told of a land rich in copper deposits. Now the country is revitalising its ancient metal mining industry as it seeks alternative sources of wealth to its dwindling exports of hydrocarbons and jobs for its growing number of young nationals. A subsidiary of […] May 21, 2025
Analysis Markets Oman still a long way off emerging market index status Oman’s listing of several government companies on Muscat’s bourse has probably done little to boost the sultanate’s hopes of achieving emerging market status – for now at least. Five state companies have gone public since 2023, raising almost $4 billion in total. Their relatively poor post-listing performance, however, has soured investor sentiment and made further […] May 21, 2025
Construction Oman to build two low-carbon smart cities Oman has announced two new smart cities as part of its drive to reduce carbon emissions. The first city will be built in the mountain region of Jebel Akhdar, which is about 2,400 metres above sea level. The 12,000-sq-m plot is designed to accommodate 10,000 residents. The second development is Thuraya City in Bawshar Heights, […] May 20, 2025
Real Estate Egypt’s Talaat Moustafa to invest $4bn in Oman Talaat Moustafa Group, a leading Egyptian real estate developer, says it will invest OR1.5 billion ($3.9 billion) in Oman to expand in the GCC region after entering Saudi Arabia last year. Two projects will be developed in west Muscat, offering 13,000 residential and hotel units, the company said in a statement. The developer has signed […] May 20, 2025
Oil & Gas Occidental to invest $30bn in extended Oman concession Oman has extended a concession with a consortium led by Occidental Petroleum to help increase production from its biggest oil field. The new concession agreement for Block 53 in south-central Oman, which was set to expire in 2035, includes a commitment to invest $30 billion through an extended 15-year period, the Omani Ministry of Energy […] May 19, 2025
Logistics Investcorp to spend $550m to expand Oman’s Duqm port Bahrain-based asset manager Investcorp will invest $550 million to expand the Port of Duqm in Oman, as part of a strategy to build a regional infrastructure portfolio. Investcorp Aberdeen Infrastructure Partners (AIIP), a joint venture with UK-based fund manager Aberdeen, will be a shareholder in the project alongside Cap Infra, a consortium comprising the Port of […] May 19, 2025
Renewable Energy OQGN to develop local hydrogen transport network State-owned OQ Gas Networks (OQGN), the pipeline subsidiary of Oman energy major OQ, and Belgium’s energy infrastructure group Fluxys will jointly develop the infrastructure for hydrogen transportation across the sultanate. As part of the contract the two companies will hold a minority stake in the hydrogen network, the state-run Oman News Agency reported. No details […] May 19, 2025
Telecoms Zain revenue raises Omantel’s profits Omantel, Oman’s largest telecoms provider, reported a significant rise in net profits in the first quarter of 2025, thanks to strong performance by its Kuwaiti subsidiary Zain. Its net profit rose to OR65 million ($168 million) in the first three months of this year, up 60 percent over the same period in 2024. Omantel’s group […] May 15, 2025
Editor's Insight Energy Oman and its foreign energy partners The cameras were in Riyadh but the oilpeople were in Muscat. As our colleague Saleh Al-Shaibany has noted, Oman was not on the itinerary of the 47th US president, although the sultanate has been hosting the US Iran nuclear talks. Trump was missing something. There at the Convention and Exhibition Centre was Baker Hughes, there was Halliburton […] May 15, 2025
Analysis Markets Oman’s state IPO history raises question over future sales Oman’s privatisation programme of state-owned companies has boosted government coffers and helped improve the sultanate’s credit rating, but it has brought little joy for equity investors. Since the start of 2023, five state-controlled businesses have sold shares to the public in initial public offerings (IPOs), raising almost $4 billion in total. These span four subsidiaries […] May 15, 2025
Employment OQEP deals are part of Omani job creation drive Oman’s OQ Exploration and Production (OQEP) has signed four contracts worth $53 million with local companies to help create jobs for Omani nationals. The contracts include oil field operations, construction facility and rig drilling, as part of OQEP’s in-country value (ICV) programme. “These agreements not only create new business opportunities for Omani enterprises but also […] May 14, 2025
Trade Why Oman is off Trump’s travel plans Oman may have negotiated a ceasefire between the US and Yemen’s Houthis, and is the go-between the US and Iran in negotiations around nuclear weapons capability. But it is not among the countries President Donald Trump is visiting in the Arabian Gulf this week. “These Gulf countries Trump is currently visiting are offering trillions of […] May 14, 2025
Real Estate Commercial oversupply may explain drop in Oman property sales Oversupply in commercial properties may underpin a decline in the value of real estate transactions in Oman in the first quarter, according to one real estate agent. The value of real estate transactions in the country declined by 2.5 percent to OR573 million ($1.5 billion) in the three months to March 31, compared with the […] May 13, 2025
