News

Oman Announces Voluntary Reduction of 44,000 BarrelsMuscat, 30 Nov (ONA) —— The Sultanate of Oman has announced an additional crude oil voluntary reduction of 42,000 barrels per day with effect from January 2024 until the end of March 2024, in support of precautionary efforts made by OPEC+ to enhance the stability of oil markets.The Ministry of Energy and Minerals explained that this additional reduction is in pursuance of previous voluntary reduction of 40,000 barrels per day until December 2024.—— Ends/Bishara/AH ...

Oman, Swiss Confederation Sign MoUs in Different Fields Muscat, 30 Nov (ONA) --- The Sultanate of Oman and the Swiss Confederation signed in Muscat today several memorandums of understanding (MoUs) to enhance areas of cooperation between the two friendly countries in various sectors. The memoranda were signed under the patronage of Dr. Alain Berset, President of the Swiss Confederation, within the context of his official visit to the Sultanate of Oman. The memoranda covered the fields of sustainable and renewable energy and its technologies, tourism, healthcare, capacity ...

President of Swiss Confederation Inaugurates Stamp Marking 50th Anniversary of Diplomatic Relations Muscat, 30 Nov (ONA) --- Dr. Alain Berset, President of the Swiss Confederation, within the framework of his official visit to the Sultanate of Oman, inaugurated a joint commemorative postage stamp to celebrate the 50th anniversary of the establishment of bilateral relations between the Sultanate of Oman and the Swiss Confederation. The postage stamp was issued by Oman Post, an affiliate of Asyad Group. The design of the postage stamp includes the hisotorical “Jabreen ...

MSX Rises 3 Points Muscat, 30 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (3.5) points, comprising a rise by (0.08%) to close at (4658.15) points, compared to the last session, which stood at (4654.62) points. The trading value today stood at (RO 7,837,992), comprising a surge by (110.9%), compared to the last session, which stood at (RO 3,716,930). The report released by MSX pointed out that the market value went down by (0.427%) to reach about (RO 23.78) billion. The report added that the value of shares bought by non-Omani investors ...

Oman Oil Price Rises 2.39 US Dollars Muscat, 30 Nov (ONA) --- Oman oil price (January delivery 2024) today reached 83.15 US Dollars, comprising a rise by 2.39 US Dollars from the price of yesterday (Wednesday), which stood at 80.76 US Dollars. The average price of Oman oil (November delivery 2023) has stabilized at 92.77 US Dollars per barrel, thus 6.02 US Dollars per barrel higher than October delivery 2023. --- Ends/Anas ...

MSX Rises 21 PointsMuscat, 29 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (21.8) points, comprising a rise by (0.47%) to close at (4654.62) points, compared to the last session, which stood at (4632.80) points.The trading value today stood at (RO 3,716,930), comprising a drop by (32.4%), compared to the last session, which stood at (RO 5,500,598).The report released by MSX pointed out that the market value went up by (0.127%) to reach about (RO 23.88) billion.The report added that the value of shares bought by non-Omani investors reached (RO 288,000), ...

PDO Announces Groundbreaking Milestone with Co2 Utilization for EOR Muscat, 29 Nov (ONA) ---- Petroleum Development Oman (PDO) today announced the commencement of an extended pilot dedicated to utilizing CO2 for Enhanced Oil Recovery (EOR) in the north of the Sultanate of Oman. This is a first for PDO and for Oman. PDO is committed to its purpose of building a sustainable and low-carbon future, aiming to ensure the company’s long-term success by continuing to generate significant oil and gas revenue in a cost-effective and carbon-efficient manner, thereby maximizing ...

Oman Oil Price Drops 60 Cents Muscat, 29 Nov (ONA) --- Oman oil price (January delivery 2024) today reached 80.76 US Dollars, comprising a drop by 60 cents from the price of yesterday (Tuesday), which stood at 81.36 US Dollars. The average price of Oman oil (November delivery 2023) has stabilized at 92.77 US Dollars per barrel, thus 6.02 US Dollars per barrel higher than October delivery ...

Labour Ministry Announces 101 Employment Opportunities for Fresh Jobseekers Muscat, 28 Nov (ONA) --- Represented by the General Directorate of Labour in Muscat Governorate, the Ministry of Labour today announced the availability of 101 employment opportunities for fresh jobseekers (who have not been employed before). The offer stems from the Wage Subsidy Initiative (WSI) endorsed at various private sector establishments. The employment opportunities can be contested by holders of university degrees, the General Education Diploma (GED) and the post-secondary school diploma ...

MSX Rises 6 Points Muscat, 28 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (6.6) points, comprising a rise by (0.14%) to close at (4632.80) points, compared to the last session, which stood at (4626.20) points. The trading value today stood at (RO 5,500,598), comprising a rise by (26.2%), compared to the last session, which stood at (RO 4,359,172). The report released by MSX pointed out that the market value went up by (0.028%) to reach about (RO 23.85) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Oman Oil Price Rises 2 Cents Muscat, 28 Nov (ONA) --- Oman oil price (January delivery 2024) today reached 81.36 US Dollars, comprising a rise by 2 cents from the price of yesterday (Monday), which stood at 81.34 US Dollars. The average price of Oman oil (November delivery 2023) has stabilized at 92.77 US Dollars per barrel, thus 6.02 US Dollars per barrel higher than October delivery 2023. ---Ends/Thuraiya/AH ...

SEZD Celebrates Laying Foundation Stone to Establish Integrated Green Steel Factory Duqm, 27 Nov (ONA) --- The Special Economic Zone at Duqm (SEZD) today celebrated laying the foundation stone for the establishment of an integrated green hydrogen steel factory with a production capacity of about 5 million metric tons annually. The unit generates investments exceeding $3 billion. The project, being implemented by Vulcan Green Steel, a subsidiary of Jindal Shadid Steel Group, is scheduled to be completed by 2026 and to begin production in 2027. The project will cut down carbon ...

Annual Inflation Rate in Oman Reaches 0.3% by October 2023 Muscat, 27 Nov (ONA) --- The annual inflation rate in the Sultanate of Oman reached 0.3% by the end of October 2023 according to data issued by the National Centre for Statistics and Information (NCSI). The inflation rate was driven by the increase in most main groups comprising the Consumer Price Index (CPI), including the miscellaneous goods and services (2.6%), tobacco (2.4%), food and non-alcoholic beverages (1.7%), furniture, household equipment and routine household maintenance (1.7%), culture and entertainment ...

Tender Results of Government Treasury Bills Worth RO 31 Million Issued Muscat, 27 Nov (ONA) --- The total issuance of Government Treasury Bills amounted to RO 31 million. The value of the allotted Treasury bills amounted to RO 15 million, for a maturity period of 28 days. The average accepted price reached RO 99.592 for every RO 100, and the minimum accepted price arrived at RO 99.590 per RO 100. The average discount rate and the average yield reached 5.32292% and 5.34474%, respectively. Whereas, the value of the allotted Treasury bills amounted to RO 16 million, for a maturity ...

MSX Loses 1 PointMuscat, 27 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (1.5) points, comprising a drop by (0.03%) to close at (4626.20) points, compared to the last session, which stood at (4627.67) points.The trading value today stood at (RO 4,359,172), comprising a rise by (2.4%), compared to the last session, which stood at (RO 4,255,357).The report released by MSX pointed out that the market value went down by (0.098%) to reach about (RO 23.84) billion.The report added that the value of shares bought by non-Omani investors reached (RO 424,000), ...

Fiber-optics Network Coverage to Reach 99% in Muscat in Next Three Years Muscat, 27 Nov (ONA) --- Oman Broadband Company (OBB) provides and maintain a broadband infrastructure for main telecommunication service providers in the Sultanate of Oman. Eng. Sultan Ahmed Al Wahaibi, Chief Executive Officer (CEO) of OBB pointed out that the company is committed to expanding and enhancing the broadband infrastructure, thus providing people with access to high-speed internet. He added that OBB achieved significant progress in expanding the fiber-optics network in the governorates ...

Oman Oil Price Drops 1.45 US DollarsMuscat, 27 Nov (ONA) --- Oman oil price (January delivery 2024) today reached 81.34 US Dollars, comprising a drop by 1.45 US Dollars from the price of last (Friday), which stood at 82.79 US Dollars.The average price of Oman oil (November delivery 2023) has stabilized at 92.77 US Dollars per barrel, thus 6.02 US Dollars per barrel higher than October delivery 2023. ---Ends/Thuraiya/Anas ...

Shura Council Discusses “2024 Draft Budget” with Finance Minister Muscat, 26 Nov (ONA) --- Members of the Shura Council today held a non-public session during which they listened to the Finance Minister’s statement on the State’s draft budget for fiscal year 2024 (in accordance with Article 52 of the Council of Oman’s Law). The statement of Sultan Salim Al Habsi, Minister of Finance, covered global economic developments, growth indicators of the Omani economy, expected outcomes of 2023 budget, salient features of the State’s general budget 2024 and related fiscal ...

Sahab Work-Based Trainee Programme Launched Muscat, 26 Nov (ONA) ---- “Sahab” Work-Based Trainee Programme, which evolved by Oman Data Park (ODP), was launched today in coordination with the Ministry of Labour. The launching ceremony was held at the ODP’s premises in the Knowledge Oasis under the auspices of Dr. Mahad Said Ba'Owain, Minister of Labour. The programme aims to hone the skills of Omani graduates applying for jobs. The Sahab Trainee Program comes within the framework of ODP’s commitment to boost its corporate social responsibility by contributing ...

NCSI Bags Salem Al-Ali Al-Sabah Informatics Award Kuwait, 26 Nov (ONA) --- The National Centre for Statistics and Information (NCSI) won the award of HH Salem Al-Ali Al-Sabah Informatics Award in its 23rd edition dedicated to Sustainable Development. The award was won through the 2020 Electronic Census project, covering the enumeration of population, residences and establishments. The project was implemented by the National Centre for Statistics and Information. The award shows appreciation for NCSI efforts in the field of digital transition in statistical tasks. ...

Oman Investment Authority Makes Headways in Exit Plan Muscat, 26 Nov (ONA) --- The exit plan of espoused by Oman Investment Authority (OIA) continued to achieve good results that are consistent with the strategic vision set by the OIA as part of its efforts to empower the private sector and attract foreign investments. The plan, which motives corporate growth, goes in line with Oman Vision 2040 and it establishes an environment that supports economic diversification and enhances cooperation with international companies. Abdulsalam Mohammed Al Murshidi, OIA Chairman, said ...

Q3 Producer Price Index in Oman Down by 13% Muscat, 26 Nov (ONA) --- Producer Price Index (PPI) in Oman declined by 13% during the 3rd quarter of 2023, compared to the corresponding period in 2022, according to statistics released by the National Centre for Statistics and Information (NCSI). The NCSI data indicate that the prices of oil and gas products went down by 13.7%. The prices of non-oil products also declined by 8.2%. The decline in oil and gas products’ price was due to a 16% fall in the prices of crude oil and natural gas. Meanwhile, the prices of refined ...

MSX Rises 7 Points Muscat, 26 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (7.03) points, comprising a rise by (0.15%) to close at (4627.67) points, compared to the last session, which stood at (4620.64) points. The trading value today stood at (RO 4,255,357), comprising a drop by (34.3%), compared to the last session, which stood at (RO 6,472,272). The report released by MSX pointed out that the market value went up by (0.119%) to reach about (RO 23.86) billion. The report added that the value of shares bought by non-Omani investors reached (RO ...

Investment in Oil and Gas Exploration, Production in Oman Stands at $5.84 Billion Muscat, 26 Nov (ONA) --- The volume of investment in the sector of oil and gas exploration, production and development during the first half of 2023 stood at about $5.84 billion. Capital expenditure—including geological surveys, drilling, facilities—accounted for 62 percent of total investment, while 38 percent went to operating expenses. Dr. Saleh bin Ali Al Abbouri, Director General of Oil and Gas Exploration and Production at the Ministry of Energy and Minerals, said that, during 2023, oil ...

Activities of Airports Innovative Conference & Exhibition Conclude in MuscatMuscat, 22 Nov (ONA) ——Various attendees and participants today concluded the final sessions of the Airports Innovate Conference & Exhibition, which took place from 21 to 22 November at the Oman Conference and Exhibition Centre, in Muscat.The conference was hosted by the Sultanate of Oman, represented by Oman Airports, with cooperation by the Airports Council International (ACI).During the conference, participants discussed various papers on the latest trends, developments, and technological innovations in ...

MSX Rises 6 PointsMuscat, 21 Nov (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (6.4) points, comprising a rise by (0.14%) to close at (4620.64) points, compared to the last session, which stood at (4614.20) points.The trading value today stood at (RO 6,472,272), comprising a growth by (107.5%), compared to the last session, which stood at (RO 3,118,635).The report released by MSX pointed out that the market value went down by (0.029%) to reach about (RO 23.84) billion.The report added that the value of shares bought by non-Omani investors reached (RO 417,000), ...

Oman LNG Signs Sale and Purchase Agreement with BP Muscat, 21 Nov (ONA) --- Oman LNG announced the signing of Sale and Purchase Agreement (SPA) to deliver a total of 1 million Metric Tonnes Per Annum (MTPA) of LNG from Oman LNG to BP. The agreement strengthens the robust relationship between Oman LNG and BP, with which the company has previously signed Sale and Purchase Agreements to supply reliable energy from the Sultanate of Oman. Spanning over 9 years, the agreement is Free-on-Board (FOB) and starts in 2026. Commenting on this agreement, Hamed Al Naamany, CEO of ...

International Aviation Conference Reviews in Muscat Latest Related InnovationsMuscat, 21 Nov (ONA) —- Eng. Said Hamoud Al Ma’awali, Minister of Transport, Communications and Information Technology and the Chairman of Oman Airports, inaugurated the Airports Innovate Conference and Exhibition, which is hosted by the Sultanate of Oman, represented by "Oman Airports," at the Oman Convention and Exhibition Center in Madinat Al Irfan today.The conference is attended by more than 400 local and international figures, over 30 sponsors and exhibitors, and 60 speakers from global airport leaders, ...

Oman’s Winter Tourism Offers Unique Destinations, Experiences Muscat, 20 Nov (ONA) --- Visitors are pouring in various tourism destinations in the Sultanate of Oman during the winter tourism season, which is one of the most important tourism seasons in the country. Meanwhile, the efforts of the Ministry of Heritage and Tourism (MHT) are integrating with the partners of tourism sector, to provide attractive products and services through which the visitor can live a unique experience. The Ministry of Heritage and Tourism worked to promote the winter season among the local ...

Tender Results of Government Treasury Bills Worth RO 21 Million Issued Muscat, 20 Nov (ONA) ---- The total issuance of Government Treasury Bills amounted RO 21 million. The value of the allotted Treasury bills amounted to RO 14 million, for a maturity period of 28 days. The average accepted price reached RO 99.594 for every RO 100, and the minimum accepted price arrived at RO 99.590 per RO 100. The average discount rate and the average yield reached 5.29809% and 5.31971%, respectively. The value of the allotted Treasury bills amounted to RO 7 million, for a maturity ...