Dubai Mercantile Exchange (DME) said that crude oil price (October Delivery 2020) on Tuesday reached $44.25 per barrel.

The DME statement said that the price of Oman oil increased by 0.25 cents from the price of Monday, which was $43.96 per barrel.

The average price of Oman oil (August Delivery 2020) has stabilized at $41.58 per barrel, thus $7.90 per barrel"...

Oman has announced that the country's largest solar power plant, Ibri II - that can power up to 33,000 homes and remove 340,000 tonnes of carbon dioxide emissions from the sultanate’s footprint per annum - is set to start operations by the mid-2021.

Located near Ibri, the capital of the Dhahirah Governorate, the plant is being built at a cost of $400 million,"...

Oman’s newest oil terminal, encompassing a complex of facilities for the storage and export of refined petroleum products from the under-construction Duqm Refinery & Petrochemical scheme, is rapidly taking shape within the Port of Duqm on the Sultanate’s southeastern coast.

When operational in 2023, alongside the multibillion-dollar refinery project, the oil terminal will position Duqm as a new energy hub for Oman, according to a"...

Majority state-owned Duqm Quarries, which was established three years ago to jumpstart the growth of mining activities in the Special Economic Zone (SEZ) at Duqm, has unveiled a portfolio of five projects for investment – ventures that will serve to showcase the zone’s promising mining and mineral-based investment potential.

Total investment in the five projects, all of which seek to add value to locally exploited mineral resources,"...

Muscat: The Sultanate's total electricity production at the end of May 2020 fell 3.1 per cent to reach 13,254.8 GW per hour compared to the end of the same month of 2019 when the total production was 13,684.8 GW per hour.

Meanwhile, water production at the end of April 2020 increased by 5.5 per cent to reach 147.26 million cubic metres compared to 139.64 million cubic metres in the same period in 2019, according to statistics released by the National Centre for Statistics and Information (NCSI).
...

Muscat: Duqm Refinery will be establishing a storage and export terminal for liquid and bulk petroleum products at Duqm Port.

The statement issued online by ONA read, 'The oil berth of Duqm port will be witnessing the establishment of a storage and export terminal for liquid and bulk petroleum products within the third package of the Duqm refinery, concerned with external facilities implemented by Saipem International, which consists of three sub-packages.'

'The 'Duqm Economic'"...

A study conducted by researchers of the Department of Geography, College of Arts and Social Sciences at Sultan Qaboos University (SQU) has found that both solar radiation and wind are promising and substantial renewable energy alternatives to fossil fuel resources in Oman.

The study entitled, ‘Exploring the potential of solar, tidal, and wind energy resources in Oman using an integrated climatic-socioeconomic approach’, was published"...

BP cuts its dividend for the first time in a decade after a record $6.7 billion second quarter loss, when the coronavirus crisis hammered fuel demand, and it sought to win over investors by speeding up its reinvention as a lower carbon company.

Its shares rose more than 7 percent on Tuesday after BP unveiled earlier than expected a plan to reduce its oil and gas output by 40 percent and boost investments in renewable energy, such as wind and solar,"...

Exceed MPR, part of the Aberdeen-headquartered Exceed Group, has announced the launch of a specialist Rig Integration service, in tandem with the appointment of industry specialist Jon Goodenough as Rig Integration Manager.

Founded in 2016, the Lowestoft-based Managed Pressure Drilling (MPD) experts have a reputation for providing a wide range of MPD services, from feasibility"...

Global oil demand will not return back to pre-virus levels until the third quarter (Q3) of 2021, and a forecast of 2.5 million barrels per day (m b/d) quantum is seen as a permanent level of demand destruction, a report said.

Despite an assumed pick-up in momentum over the summer, we forecast that global liquids demand will only expand to an average 97m b/d by year-end, as aviation demand in particular is slow to convalesce losses, said Mitsubishi UFJ Financial Group (MUFG), a Japanese bank holding and financial"...