News

Omani-Saudi Business Council Reviews Means of Easing Entry of Omani Goods to Saudi Markets Riyadh, 1 Feb (ONA) --- The Omani-Saudi Joint Business Council held a special meeting here today to discuss means of easing the entry of Omani products to Saudi markets and overcoming obstacles facing Saudi investors in the Sultanate of Oman. It also touched on the issue of certificates of origin and the customs tax imposed on Omani products. Ali Hamad Al Kalbani, Headed the Omani side in the business council, while Nasser Said Al Hajri, Headed the Saudi side. The meeting was ...

Oman, KSA Ink Several Agreements, MoUs Riyadh, 1 Feb (ONA) --- The Sultanate of Oman and the Kingdom of Saudi Arabia (KSA) signed a number of agreements and memorandums of understanding related to investment in various economic and industrial sectors. This came on the sidelines of the Omani-Saudi Investment Forum held today in Riyadh, KSA. An agreement of cooperation in the field of tourism and travel was signed between VisitOman Company and Saudi Almosafer Company. This agreement deals with developing and promoting quality tourism experiences in the Sultanate of Oman to ...

Finance Minister Receives Deputy PM, Minister of Foreign Affairs of Kazakhstan Muscat, 1 Feb (ONA) --- Sultan Salim Al Habsi, Minister of Finance, received in his office today Mukhtar Tileuberdi, Deputy Prime Minister and Minister of Foreign Affairs of Kazakhstan. During the meeting, the two sides reviewed means of enhancing cooperation in areas of mutual interest. They also exchanged views on various economic and investment matters. --- Ends/AG ...

Oman, Saudi Arabia Ink MoU on Development of Special Economic Zones, Free ZonesRiyadh, 1 Feb (ONA) --- The Public Authority for Special Economic Zones and Free Zones (OPAZ) today signed a memorandum of understanding (MoU) with Economic Cities and Special Zones Authorities in the Kingdom of Saudi Arabia (KSA) in the field of economic and investment development.The MoU seeks to optimize the competitive advantage of cities and special economic zones by setting a general framework for joint activities and developing capabilities between the two sides in a manner that achieves mutual ...

MoU Signed to Fund First Phase of Al Dhahirah Economic Zone’s Infrastructure ProjectRiyadh, 1 Feb (ONA) --- The Ministry of Finance and the Saudi Fund for Development signed a memorandum of understanding (MoU) to finance the infrastructure construction project for the integrated economic zone in Al Dhahirah Governorate in Oman.The signing ceremony took place on the sidelines of the Omani-Saudi Investment Forum held in Riyadh.The MoU serves to consolidate Omani-Saudi economic relations and encourage partnerships between their sectors.The first phase of the project costs around RO ...

MSX Rises 6 Points Muscat, 1 Feb (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (6.2) points, comprising a rise by (0.13%) to close at (4709.60) points, compared to the last session, which stood at (4703.38) points. The trading value today stood at (RO 6,812,731), comprising a significant surge by (317.3%), compared to the last session, which stood at (RO 1,632,512). The report released by MSX pointed out that the market value went up by (0.058%) to reach about (RO 23.55) billion. The report added that the value of shares bought by non-Omani ...

Omani-Saudi Forum in Riyadh Discusses Long-term Economic PartnershipRiyadh, 1 Feb (ONA) —— The Omani-Saudi Investment Forum, held in Riyadh today, discussed means of enhancing the long-term economic partnership between the two countries in the sectors of investment and industry.Eng. Khalid Abdulaziz Al Falih, Minister of Investment in the Kingdom of Saudi Arabia, stressed the importance of the private sector’s role in Oman and Saudi Arabia in pushing the wheel of development forward and acts as an active partner and contributor to the development of the economic, investment and trade ...

Rima Water Treatment Plant Worth RO 87 Million InauguratedMuscat, 1 Feb (ONA) —— The Petroleum Development Oman (PDO) celebrated today the inauguration of its second nature-based project, Rima Water Treatment Plant.The project, valued at RO 87 million, follows the success of the company’s award-winning Nimr Wetlands, which treats produced water using a series of sloping reed fields and evaporation ponds.The inauguration ceremony was held at Oman Convention & Exhibition Centre under the auspices of HH Sayyid Marwan Turki Al Said, Governor of Dhofar.The chief guest said, “It was a ...

Oman Oil Price Rises 3.15 US Dollars Muscat, 1 Feb (ONA) --- Oman oil price (April Delivery) today reached 83.55 US Dollars, comprising a rise by 3.15 US Dollars. The average price of Oman oil (February Delivery 2023) has stabilized at 77.43 US Dollars per barrel, thus 8.72 US Dollars per barrel lower than January Delivery 2023. --- Ends/Anas ...

Oman to Host International Semiconductor Executive Summits in FebruaryMuscat, 31 Jan (ONA) --- Represented by the Ministry of Transport, Communications and Information Technology, the Sultanate of Oman will host the International Semiconductor Executive Summits on 22 and 23 February 2023. The summit is due to bring together a large number of companies operating in the field from different countries of the world.Dr. Ali Amer Al Shidhani, the ministry’s Undersecretary for Communications and Information Technology, said that the summit is part and parcel of the National Programme for ...

Dubai Energy Exchange Delivers More than 181 million Barrels of Oman Crude Dubai, 31 Jan (ONA) ---- Dubai Energy Exchange announced that the actual delivery of Oman Crude in 2022 rose by 23 percent to 181 million barrels, compared to 147 million barrels in 2021. The bourse saw remarkable growth in trading volumes, which reflects traders’ interest in the significance of "Oman futures contract in global oil markets" as an ideal instrument in hedging and managing financial risks, notably during the period of sharp fluctuations in the markets in 2022. The stock exchange also ...

Tender Results of Government Treasury Bills worth RO 70 Million Issued Muscat, 31 Jan (ONA) ---- The total issuance of Government Treasury Bills amounted RO 70 Million. The value of the allotted Treasury bills for a maturity period of 91 days amounted to RO 5 million. The average accepted price reached RO 98.789 for every RO 100, and the minimum accepted price arrived at RO 98.785 per RO 100. The average discount rate and the average yield reached 4.85731% and 4.91685%, respectively. Whereas, the value of the allotted Treasury bills for a maturity period of 182 ...

Abraj Energy, EDO Collaborate to Advance Onshore Oil and Gas Services Muscat, 31 Jan (ONA) --- Abraj Energy Services has signed a Memorandum of Understanding (MoU) with Energy Development Oman (EDO) to develop services related to oil and gas extraction operations. The partnership will see Abraj provide an expanded range of services to EDO's affiliates, including Petroleum Development Oman (PDO), further strengthening the long-standing relationship between the two entities. The MoU was signed by Eng. Saif Said Al Hamhami, CEO of Abraj Energy Services and on behalf ...

Over 57K International Flight Through Oman’s Airports by November 2022Muscat, 31 Jan (ONA) --- The total number of inbound and outbound flights at the airports of the Sultanate of Oman (Muscat, Salalah and Sohar) surged at the end of November 2022 by 134.5% to reach 57,939 flights compared to 24,710 flights during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI). The total number of inbound passengers through Oman’s airports increased considerably by 142%. Inbound, outbound and transit passengers ...

MSX Drops 46 Points Muscat, 31 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (46.9) points, comprising a drop by (0.99%) to close at (4703.38) points, compared to the last session, which stood at (4750.26) points. The trading value today stood at (RO 1,632,512), comprising a surge by (35.1%), compared to the last session, which stood at (RO 1,208,765). The report released by MSX pointed out that the market value went down by (0.299%) to reach about (RO 23.53) billion. The report added that the value of shares bought by non-Omani investors reached ...

CBO Releases its First Macroeconomic Stability Report Muscat, 31 Jan (ONA) ---- The Central Bank of Oman (CBO) released the first issue of the Macroeconomic Stability Report (MSR). The report, that will be issued annually, complements CBO publications and adds to its timely communication approach with in-depth diagnostic analyses of Oman’s macroeconomic performance. The MSR covers a period of 18 months from January 2021 to June 2022 in providing its assessment of the recent macroeconomic developments in Oman, highlighting the strengths and potential macroeconomic ...

PDO Announces New Pack of Social Investment Initiatives Worth $ 2.1m Muscat, 31 Jan (ONA) ---- Petroleum Development Oman (PDO) has committed to support a host of new projects totalling more than $ 2.1 million, which will benefit communities and boost sustainable development across the Sultanate. The initiatives include commitments in the key areas of health, community infrastructure development, as well as enhancing the education sector. As many as 10 Memorandums of Collaboration (MOCs) confirming these commitments were signed today at an official ceremony ...

Partnership and Development Forum Highlights Opportunities of Boosting ICV, CSR Muscat, 31 Jan (ONA) --- The Public Authority for Special Economic Zones and Free Zones (OPAZ) organised today the Partnership and Development Forum, which reviewed opportunities of boosting In-Country Value (ICV), Corporate Social Responsibility (CSR) and supporting small and medium enterprises (SMEs) in economic and free zones. The forum covered several working papers on enhancing ICV and supporting SMEs through a range of various sustainable initiatives and projects. OPAZ also highlighted ...

Oman Oil Price Drops 2.59 US Dollars Muscat, 31 Jan (ONA) --- Oman oil price (March Delivery) today reached 79.91 US Dollars, comprising a drop by 2.59 US Dollars from the price of yesterday (Monday), which was 82.50 US Dollars. The average price of Oman oil (January Delivery 2023) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Anas ...

MSX Drops 12 PointsMuscat, 30 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (12.6) points, comprising a drop by (0.26%) to close at (4750.26) points, compared to the last session, which stood at (4762.85) points.The trading value today stood at (RO 1,208,765), comprising a surge by (37.1%), compared to the last session, which stood at (RO 881,974).The report released by MSX pointed out that the market value went down by (0.011%) to reach about (RO 23.59) billion.The report added that the value of shares bought by non-Omani investors reached (RO 191,000), ...

Production of Electricity, Water by November 2022 IncreasesMuscat, 30 Jan (ONA) --- The Sultanate of Oman’s total production of electricity increased by 1.6 percent till the end of November 2022 to reach 39,081.9 GW per hour compared to 38,483.5 GW during the corresponding period in 2021, according to the latest data issued by the National Centre for Statistics and Information (NCSI).The Governorate of Dhofar recorded a rise in electricity production by 9 percent, to reach 3,934.7 GW per hour till the end of November 2022. The governorates of North Al Batinah, South Al Batinah and ...

Labour Ministry, OQ Sign MoU for Exchange of Expertise in Administrative DevelopmentMuscat, 30 Jan (ONA) --- The Ministry of Labour today signed a memorandum of understanding (MoU) with OQ, a global integrated energy group, to devise a three-year plan for the exchange of expertise and services in administrative fields.The MoU explores solutions for the development of human resources. It was signed by Sayyid Salim Musallam Al Busaidi, Labour Ministry’s Undersecretary for Human Resources Development, and Ashraf Hamad Al Ma’amari, CEO of Human Resources, Technology and Work Culture ...

Oman LNG Signs Binding Term-sheet Agreement with Turkish BOTAŞ Muscat, 30 Jan (ONA) ---- Oman LNG today announced the signing of binding term-sheet agreement with Turkish BOTAŞ Petroleum Pipeline Corporation (BOTAS) to supply 1 million metric tonnes per annum (mtpa) of LNG, starting in 2025. This agreement helps to strengthen Oman LNG’s partnership with international firms in the energy and LNG industry. The signed term-sheet agreement will see Oman LNG supplying BOTAS with a total volume of 1 million metric tonnes per annum of LNG based on a 10-year contract, ...

ASMED Inks Cooperation Programme with DHL Express to Empower SMEs, ArtisansMuscat, 30 Jan (ONA) --- The Authority for Small and Medium Enterprises Development (ASMED) today signed a cooperation programme with DHL Express to empower small and medium enterprises (SMEs) and crafts people by enhancing the growth of their businesses through a package of initiatives.The agreement was signed by Abdulaziz Said Al Raisi, ASMED Deputy Chairman for SMEs Development, and Moustafa Osman, DHL Express Country Manager, Oman.As per the programme, SMEs and artisans will be offered special services, ...

Oman Oil Price Drops 1.98 US DollarMuscat, 30 Jan (ONA) --- Oman oil price (March Delivery) today reached 82.50 US Dollars, comprising a drop by 1.98 US Dollar from the price of last (Friday), which was 84.48 US Dollars.The average price of Oman oil (January Delivery 2023) has stabilized at 86.15 US Dollars per barrel, thus 4.64 US Dollars per barrel lower than December Delivery 2022. --- Ends/Thuraiya/AG ...

Oman Participates in GCC Financial, Economic Cooperation Committee Extraordinary Meeting Muscat, 29 Jan (ONA) --- The Sultanate of Oman, represented by the Ministry of Finance, took part in the 118th extraordinary meeting of the GCC Financial and Economic Cooperation Committee and the joint meeting with the Trade Cooperation Committee, held via video-conferencing. The meeting discussed the remaining steps towards establishing the customs union in accordance with the set timeframe and implementing the steps needed for the GCC Common Market. The meeting was held under the ...

MSX Gains 11 Points Muscat, 29 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (11.4) points, comprising a rise by (0.24%) to close at (4762.85) points, compared to the last session, which stood at (4751.49) points. The trading value today stood at (RO 881,974), comprising a drop by (80.99%), compared to the last session, which stood at (RO 4,640,123). The report released by MSX pointed out that the market value went up by (0.082%) to reach about (RO 23.59) billion. The report added that the value of shares bought by non-Omani investors reached ...

144 SME Projects Funded by Inma Fund Muscat, 29 Jan (ONA) --- The total number of small and medium enterprises (SMEs) in the Sultanate of Oman which are funded by Inma Fund during 2022 stood at 144 projects in various economic sectors, with a total value of RO 20 million. At the forefront of those sectors is industry (20%), followed by services (19%), transport and logistics (16%), infrastructure (15%), trade (10%), tourism (9%) and the oil and gas sector (8%). The projects funded by Inma Fund in Oman’s various governorates managed to boost their production lines and ...

Oman’s Production of Oil, Gas Increases by December 2022 Muscat, 2 Jan (ONA) --- The Sultanate of Oman’s production of oil recorded a rise by 9.6% till the end of December 2022 to stand at 388,434,800 barrels, according to the latest data issued by the National Centre for Statistics and Information (NCSI). Separately, crude oil production increased by 12.8%, while condensates production declined by 1.4% compared to the corresponding period in 2021. The average price of Oman’s crude oil surged by 48.4% till the end of December 2022 to reach USD 95.4 per barrel compared ...

MSX Drops 4 PointsMuscat, 26 Jan (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (4.6) point, comprising a drop by (0.10%) to close at (4751.49) points, compared to the last session, which stood at (4746.85) points.The trading value today stood at (RO 4,640,123), comprising a surge by (63.97%), compared to the last session, which stood at (RO 2,829,817).The report released by MSX pointed out that the market value went up by (0.046%) to reach about (RO 23.57) billion.The report added that the value of shares bought by non-Omani investors reached (RO 161,000), ...