News

Oman Oil Price Drops 2.46 US Dollars Muscat, 17 Jul (ONA) --- Oman oil price (September delivery 2023) today reached 79.61 US Dollars, comprising a drop by 2.46 US Dollars from the price last (Friday) which stood at 82.07 US Dollars. The average price of Oman oil (July delivery 2023) has stabilized at 74.94 US Dollars per barrel, thus 8.34 US Dollars per barrel lower than June delivery 2023. --- Ends/Thuraiya/AH ...

Oman Participates in Meeting of Training Committee for GCC Accounting, Audit EmployeesRiyadh, 16 Jul (ONA) --- The Sultanate of Oman, represented by the State’s Audit Institutions (SAI) is taking part in the 34th meeting of the Training and Development Committee for employees of GCC financial audit and accounting bureaus.The two-day meeting, held at the GCC Secretariat General in Riyadh, deals with the selection of training programmes for the years 2024 and 2025, drafting the operational plan for years 2023-2025 and selecting topics for the 6th GCC audit and accountancy research ...

MSX Drops 27 Points Muscat, 16 Jul (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (27.1) points, comprising a drop by (0.57%) to close at (4769.54) points, compared to the last session, which stood at (4796.66) points. The trading value today stood at (RO 2,051,960), comprising a decline by (48.5%), compared to the last session, which stood at (RO 3,983,306). The report released by MSX pointed out that the market value went down by (0.121%) to reach about (RO 23.88) billion. The report added that the value of shares bought by non-Omani investors ...

International Report Highlights Oman’s Tourism Sector Growth Muscat, 16 Jul (ONA) --- A report issued by BMI, an economic solutions entity affiliated with Fitch agency has revealed that the recovery of the tourism sector in the Sultanate of Oman in 2022 was stronger than previous expectations, with the continuation of positive expectationsfor 2023. The BMI report shows that the total number of international tourist arriving into Oman in 2023, are forecasted to reach 3.5 million tourists, up by 20.8% on an annual base, compared to 2022. The average annual growth of the number ...

Oman-Syria Joint Committee Winds Up Meetings of its 6th SessionMuscat, 13 Jul (ONA) --- Tasks of the sixth session of the Omani-Syrian Joint Committee concluded in Muscat today.During the meetings, the two sides explored cooperation in economic, investment, industrial, agricultural, cultural and media fields.The Omani side was headed by Dr. Said Mohammed Al Saqri, Minister of Economy, while the Syrian side was led by Dr. Mohammed Samer Al Khalil, Minister of Economy and Foreign Trade.Al Saqri said in a speech that the volume of commercial exchange between Oman and Syria grew by 18% ...

MSX Drops 4 Points Muscat, 13 Jul (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (4.5) points, comprising a drop by (0.09%) to close at (4796.66) points, compared to the last session, which stood at (4801.16) points. The trading value today stood at (RO 3,983,306), comprising a rise by (2.3%), compared to the last session, which stood at (RO 3,893,473). The report released by MSX pointed out that the market value went down by (0.086%) to reach about (RO 23.91) billion. The report added that the value of shares bought by non-Omani investors reached ...

Safety Measures Concluded on Roads Leading to Dhofar Salalah, 13 Jul (ONA) --- The Ministry of Transport, Communications and Information Technology announced the readiness of roads leading to the Governorate of Dhofar. Preventive maintenance and road safety measures were concluded in all roads extending from border checkpoints all the way to various tourism attractions in Dhofar. The Ministry’s work team monitor roads 24/hours to remove accumulating sand from some roads that are caused by monsoon wind during the Khareef season. --- Ends/AG ...

Oman Oil Price Rises 1.14 US Dollars Muscat, 13 Jul (ONA) --- Oman oil price (September delivery 2023) today reached 81.05 US Dollars, comprising a rise by 1.14 Dollars from the price of yesterday (Wednesday) which stood at 79.91 US Dollars. The average price of Oman oil (July delivery 2023) has stabilized at 74.94 US Dollars per barrel, thus 8.34 US Dollars per barrel lower than June delivery 2023. --- Ends/AG ...

Fujairah International Airport Receives SalamAir’s Flight from Muscat International AirportFujairah, 12 Jul (ONA) ---- Fujairah International Airport today received the first direct SalamAir flight coming from Muscat International Airport, using the Airbus 320.The flight was accorded an official welcome upon its arrival. Ismaeil Mohammed Al Balushi, Director of Fujairah International Airport, expressed delight at the event, stressing that all arrangements will be made to ensure the success and continuation of such flights via Muscat-Fujairah route.For his part, Captain Mohamed ...

Tender Board Awards Projects, Development Tasks Worth RO 68m Muscat, 12 Jul (ONA) ---- The Tender Board today held its 4th meeting of the year under the chairmanship of Dr. Said Mohammed Al Saqri, Minister of Economy, Chairman of the Tender Board. During the meeting, the Tender Board awarded projects and additional tasks related to development projects to the tune of more than RO 68.8 million. The awarded tasks included 24 projects, most importantly the implementation and management of Oman Government Network (RO 38,558,520), nutrition services and accompanying tasks for ...

MSX Closes at 4801 Points Muscat, 12 Jul (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (0.7) point, comprising a drop by (0.01%) to close at (4801.16) points, compared to the last session, which stood at (4801.88) points.The trading value today stood at (RO 3,893,473), comprising a rise by (48.2%), compared to the last session, which stood at (RO 2,626,860).The report released by MSX pointed out that the market value went up by (0.060%) to reach about (RO 23.93) billion.The report added that the value of shares bought by non-Omani investors reached ...

OPAZ Delegation Visits IrelandDublin, 12 Jul (ONA) --- Dr. Ali Masoud Al Sunaidy, Chairman of the Public Authority for Special Economic Zones and Free Zones (OPAZ) met here today with Dara Calleary, Minister of State for Trade Promotion, Digital and Company Regulation of the Republic of Ireland. During the visit to Ireland, Al Sunaidy is heading a delegation comprising several officials from OPAZ, the Special Economic Zone Authority in Duqm (SEZAD) and the Public Establishment for Industrial Estates (Madayn). The visit comes within the framework of benefiting from the Irish ...

Foundation Stone Laid for 2nd Phase of Oman’s First Biological Drugs, Vaccines FactoryMuscat, 12 Jul (ONA) --- Opal Bio Pharma Company held a ceremony today to celebrate laying the foundation stone for the second phase of the first Omani factory for biological medicines and vaccines in the Sultanate of Oman.Set up to the tune of RO 60 million, the unit occupies an area of 37,000 sqm at Khazaen Economic City. Its construction will be completed in two years. The ceremony was held under the auspices of Dr. Hilal Ali Al Sabti, Minister of Health. Sa’ad Moosa Al Junaibi, ...

Oman Oil Price Rises 1.11 US Dollars Muscat, 11 Jul (ONA) --- Oman oil price (September delivery 2023) today reached 79.91 US Dollars, comprising a rise by 1.11 Dollars from the price of yesterday (Tuesday) which stood at 78.80 US Dollars. The average price of Oman oil (July delivery 2023) has stabilized at 74.94 US Dollars per barrel, thus 8.34 US Dollars per barrel lower than June delivery 2023. --- Ends/AH ...

Oman-Syria Business Forum Explores Means of Boosting Trade Exchange Muscat, 11 Jul (ONA) --- Oman Chamber of Commerce and Industry (OCCI) organized today the Oman-Syria Business Forum which aims to develop economic relations and boost trade exchange and investments between the Sultanate of Oman and the Syrian Arab Republic. The event was held under the patronage of Dr. Said Mohammed Al Saqri, Minister of Economy. In his speech, Al Saqri pointed out that the forum provides several economic opportunities between Oman and Syria. It is also a chance, he added, to ...

Fitch Ratings Upgrades OQ Credit Profile to “bbb-” with a Positive Outlook Muscat, 11 Jul (ONA) --- Fitch Ratings, the international credit rating agency, has upgraded OQ's standalone credit profile (SCP) from “b+” to “bbb-” and reaffirmed the Long-Term Issuer Default Rating (IDR) at 'BB', with a positive outlook. This represents a significant improvement as OQ is now rated at an investment grade. It attributed the new rating to OQ’s ability to meet its long-term financial obligations. Fitch highlighted the exceptional achievements of the OQ Group, including ...

MSX Gains 25 Points Muscat, 11 Jul (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (25.7) point, comprising a rise by (0.54%) to close at (4801.88) points, compared to the last session, which stood at (4776.15) points. The trading value today stood at (RO 2,626,860), comprising a drop by (5.8%), compared to the last session, which stood at (RO 2,788,246). The report released by MSX pointed out that the market value went up by (0.182%) to reach about (RO 23.91) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman, Iran Explore Boosting Trade Exchange, Supporting Private Sector Tehran, 11 Jul (ONA) --- Hossein Selahvarzi, Head of Iran’s Chamber of Commerce, Industries, Mines and Agriculture received here today Ibrahim Ahmed Al Mu’aini, Ambassador of the Sultanate of Oman to the Islamic Republic of Iran. During the meeting, the two sides explored means of enhancing economic relations, boosting trade exchange and highlighting promising sectors in Oman. They also reviewed areas of joint business cooperation in the fields of industry, banking, food, tourism, health and mining. ...

Oman Oil Price Rises 51 Cents Muscat, 11 Jul (ONA) --- Oman oil price (September delivery 2023) today reached 78.80 US Dollars, comprising a rise by 51 cents from the price of yesterday (Monday) which stood at 78.29 US Dollars. The average price of Oman oil (July delivery 2023) has stabilized at 74.94 US Dollars per barrel, thus 8.34 US Dollars per barrel lower than June delivery 2023. --- Ends/AG ...

Production of M-91 Automobile Fuel and LPG Increase Significantly by May 2023 Muscat, 10 Jul (ONA) --- The Sultanate of Oman production of refineries and petrochemicals recorded an increase by 19.1% till the end of May 2023 compared to the corresponding period in 2022. Products of liquefied petroleum gas (LPG) and M-91 automobile fuel lead the increase by recording a surge of 1212.3% and 232.1%, respectively, according to preliminary data issued by the National Centre for Statistics and Information (NCSI). Exports of M-95 automobile fuel until the end of May 2023 declined ...

Tender Results of Government Treasury Bills worth RO 65 Million Issued Muscat, 10 Jul (ONA) ---- The total issuance of Government Treasury Bills amounted RO 65 million. The value of the allotted Treasury bills amounted to RO 37 million, for a maturity period of 28 days. The average accepted price reached RO 99.665 for every RO 100, and the minimum accepted price arrived at RO 99.665 per RO 100. The average discount rate and the average yield reached 4.36696% and 4.38164%, respectively. The value of the allotted Treasury bills amounted to RO 28 million, for a ...

National Committee for Following-up Sustainable Development Goals 2030 Meets Muscat, 10 Jul (ONA) --- The national committee for following-up the achievement of the Sustainable Development Goals 2030 held its first meeting today under the chairmanship of Dr. Said Mohammed Al Saqri, Minister of Economy, Chairman of the Committee. The meeting reviewed the tasks assigned to the committee after its reformation, most importantly supervising the preparation of voluntary national reports to follow up the achievement of the Sustainable Development Goals 2030, as well as ...

MSX Declines 12 Point Muscat, 10 Jul (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (12.6) point, comprising a drop by (0.26%) to close at (4776.15) points, compared to the last session, which stood at (4788.72) points. The trading value today stood at (RO 2,788,246), comprising a drop by (10.8%), compared to the last session, which stood at (RO 3,124,901). The report released by MSX pointed out that the market value went up by (0.025%) to reach about (RO 23.87) billion. The report added that the value of shares bought by non-Omani investors reached ...

State Budget Spending Records 4pc Increase by May 2023Muscat, 10 Jul (ONA) --- The State’s public revenue at the end of May 2023 amounted to RO 5,463 million, up by 3% when compared to RO 5,325 million registered over the same period in 2022, according to the monthly Fiscal Performance Bulletin issued by the Ministry of Finance. This is mainly due to an increase in net oil revenue and current revenue, representing 52% and 30%, respectively, of total public revenue. Net oil revenue amounted to RO 2,810 million at the end of May 2023, up by 9% when compared to RO 2,568 million ...

PDO Signs Contract With SDO for Seismic Acquisition in Block-11 Muscat, 10 Jul (ONA) --- Petroleum Development Oman (PDO), through its subsidiary, and Shell Development Oman (SDO) have signed a contract for Seismic Acquisition in Block 11, signifying a major advancement in Oman's oil and gas industry. Based on this agreement, SDO is purchasing fully-processed seismic data on Block 11 in line with Exploration and Production Sharing Agreement (EPSA). The agreement, which is set to run until October 2024, was signed by PDO Managing Director Steve Phimister and SDO’s ...

Oman Oil Price Rises 40 Cents Muscat, 10 Jul (ONA) --- Oman oil price (September delivery 2023) today reached 78.29 US Dollars, comprising a rise by 40 cents from the price of last (Friday) which stood at 77.89 US Dollars. The average price of Oman oil (July delivery 2023) has stabilized at 74.94 US Dollars per barrel, thus 8.34 US Dollars per barrel lower than June delivery 2023. --- Ends/AG ...

Decisions to Dissolve, Merge OIFC Suspended Muscat, 9 Jul (ONA) ---The Capital Market Authority (CMA) has issued a decision to suspend the decisions of Oman Investment and Finance Company (OIFC)’s general assembly’s extraordinary meeting, held on 21 June 2023, that approved the merger of OIFC with Dhofar International Development and Investment Holding Company through annexation. CMA’s decision stemmed from an objection plea filed to the Authority by a number of shareholders who own more than 5 percent of the company's shares. Accordingly, CMA issued Decision No. ...

Oman’s Oil Exports Reach 128.07 Million Barrels by May 2023 Muscat, 9 Jul (ONA) --- The Sultanate of Oman’s total exports by the end of May 2023 stood at 128,070,300 barrels with an average oil barrel price of 81 US Dollars, according to the preliminary data issued by the National Centre for Statistics and Information (NCSI). Oil exports constituted 80% of the total oil production which stood at 160,144,300 barrels. Crude oil production increased by 0.7% during the same period to stand at 125,757,600 barrels. The production of condensates also rose by 5.6% till the end ...

MSX Declines 1 Point Muscat, 9 Jul (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (1.4) point, comprising a drop by (0.03%) to close at (4788.72) points, compared to the last session, which stood at (4790.15) points. The trading value today stood at (RO 3,124,901), comprising a drop by (5.2%), compared to the last session, which stood at (RO 3,297,568). The report released by MSX pointed out that the market value went down by (0.013%) to reach about (RO 23.86) billion. The report added that the value of shares bought by non-Omani investors reached ...

Progress of Water Transmission Project Between Barka, Sohar at 94% Muscat, 9 Jul (ONA) --- Work is underway on the strategic project to enhance the water transmission system between the Wilayats of Barka and Sohar, with completion reaching 94% and with a total cost of RO 85 million. The project is considered one of the large and vital projects that are being implemented by Nama Water Services Company and is expected to feed all the wialyats of both South Al Batinah and North Al Batinah governorates. The new line is planned to enhance the system of existing water ...