MUSCAT, AUG 18 – Myanmar emerged as the largest importer of Omani crude, after long-standing and dominant importer China, during the month of July 2019, according to the Ministry of Oil and Gas. Myanmar accounted for a 9.22 per cent share of total exports of 21.329 million barrels in July, underscoring a return of demand from buyers in this southeast Asian nation. China however remained the biggest market for Omani crude, seeing its share rise 7.98 percentage points to 78.04 per cent of total exports in July. Other"...

Muscat: To enhance the safety of gas cylinders, new standards have been rolled in the Sultanate.

According to a decision by Dr Ali bin Masoud al Sunaidi, Minister of Commerce and Industry (MOCI) on Sunday, two international standards will be binding for liquefied petroleum gas (LPG) being supplied in the country.

“The new standards are being set by the ministry in"...

LONDON: Oil slipped further below $60 a barrel on Thursday, extending the previous session’s 3 per cent drop, pressured by mounting recession concerns and a surprise boost in US crude inventories.
In a sign of investor concern that the world’s biggest economy could be heading for recession, weighing on oil demand, the US Treasury bond yield curve inverted on Wednesday for the first time since 2007.
Brent crude LCOc1 was down 20 cents at $59.28 a barrel by 0840 GMT, after a 3 per cent slide on Wednesday."...

The 50-megawatt (MW) Dhofar Wind Farm in Oman has produced its first kilowatt hour of electricity, marking a major milestone for the GCC region’s first utility-scale wind farm.
The landmark wind farm, which is fully funded by the Abu Dhabi Fund for Development (ADFD), was successfully connected to Oman’s electricity transmission grid last week during the commissioning of the project’s first wind turbine, which is now supplying clean power. The remaining 12 wind turbines will be commissioned, tested"...

Having recently brought on stream Oman’s first wind-power farm, the Rural Areas Electricity Company (Tanweer) is forging ahead with the development of 11 small-scale Solar PV/Diesel based hybrid power projects at various locations across the Sultanate.
But in a dramatic revamp of the project definition and scope, state-owned Tanweer — part of Nama Group — has called for the inclusion of battery storage at all 11 sites in the first such wide-scale deployment of solar energy storage systems in the Sultanate....

The 50-megawatt (MW) Dhofar Wind Farm in Oman has produced its first kilowatt hour of electricity, marking a major milestone for the GCC region's first utility-scale wind farm.

The landmark wind farm, which is fully funded by the Abu Dhabi Fund for Development (ADFD), was successfully connected to Oman's electricity transmission grid last week during the commissioning of the project's first wind turbine, which is now supplying clean"...

An Exploration & Production Sharing Agreement (EPSA) for the onshore Block 5 licence in northwestern Oman was signed here yesterday between the Omani government and Daleel Petroleum, jointly owned by Mazoon Petrogas BVIA Limited and Mazoon Petrogas SAOC.
Dr Mohammed bin Hamad al Rumhy, Minister of Oil and Gas, signed the pact on behalf of the government. Dr Mohammed al Barwani, Chairman of MB Holding — the parent company of Daleel Petroleum — signed on behalf of the latter, which will be responsible"...

Muscat -

Oman’s Ministry of Oil and Gas (MOG) on Wednesday signed a new exploration and production sharing agreement with Daleel Petroleum Co for Block 5.

Daleel Petroleum was established in 2002 as a joint venture between Mezoon Petrogas (a subsidiary of MB Holding) and Mezoon Petrogas BVI (subsidiary of China National Petroleum Corp).

The"...

The nominal Gross Domestic Product (GDP) of the Sultanate expanded at a robust pace of 12 per cent during 2018 as against 7.3 per cent in the previous year, the Central Bank of Oman (CBO) announced in its latest review of banking and monetary developments for June 2019.
The petroleum and non-petroleum sectors grew in nominal terms by 37.1 per cent and 2.9 per cent, respectively, during this period, the apex bank said. The contribution of hydrocarbon sector to nominal GDP jumped to 35.5 per cent in 2018 from 29.0 per"...

Muscat: China continues to be the largest importer of Omani crude oil and condensates, government data has revealed.

According to the 2018 annual report released by Oman’s National Centre for Statistics and Information (NCSI), China accounted for 83.1 percent of all crude oil and condensate imports from Oman, amounting to 240.4 million barrels.

India was a far second, with just 7.6 percent of crude oil imports, or 21.9 million barrels, while Japan imported 5.8 percent of Omani crude and condensates,"...