Given the very modest scale of Oman’s hydrocarbons resources (only around five billion barrels of estimated proved oil reserves, barely the 22nd largest in the world) compared to those of Continue Reading
Like many Middle Eastern countries in the catastrophic aftermath of Saudi Arabia’s latest oil price war folly against the U.S. shale sector, Oman has been left in the position of Continue Reading
Chinese state-held giant China National Petroleum Corporation (CNPC) is in advanced talks to buy a 10-percent stake in a giant natural gas field in Oman from BP in a deal Continue Reading
Even before the latest Saudi-instigated oil war crashed oil prices, Oman had a budget breakeven price per barrel of Brent of over US$85, with a senior legal source in Abu Continue Reading
Non-OPEC oil producer Oman has been talking to other countries in the Gulf about potentially receiving financial aid to help its economy and fiscal position which are hit by the Continue Reading
Oman has reduced its 2020 state budget by 500 million Omani riyals ($1.3 billion), after directing all ministries to reduce development and operating budgets by 10%, according to state-run news Continue Reading
Oman increased its crude oil and condensate production in March by nearly 13 percent from February, after the collapse of the OPEC+ deal early last month, according to data from Continue Reading
Given the twin facts that Oman has only around five billion barrels of estimated proved oil reserves (barely the 22 nd largest in the world) but is still dependent on Continue Reading
With OPEC+ production quotas set to expire at month’s end, Oman will be joining its Arab neighbors in ramping up its oil output, even as it slashes its budget to Continue Reading
With a fiscal breakeven oil price of US$87.55 per barrel (pb) of Brent in 2020 and 80 per cent of its revenues still coming directly or indirectly from the hydrocarbons Continue Reading
