News

Oman Oil Price Drops 4.58 US Dollars Muscat, 20 Mar (ONA) --- Oman oil price (May Delivery) today reached 70.35 US Dollars, comprising a drop by 4.58 US Dollars from the price of last (Friday), which was 74.93 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/AG ...

Oman Flour Mills Company Receives 34,728 Tons of Australian Wheat ConsignmentMuscat, 19 Mar (ONA) --- Oman Flour Mills (OFM) Company received a consignment of 34,728 metric tons of Australian wheat through its affiliate company, as part of OFM’s project of purchasing wheat directly from Australian farmers. A ceremony to this effect was held under the auspices of Dr. Saud Hamoud Al Habsi, Minister of Agriculture, Fisheries and Water Resources. Mark Lawrence Donovan, Ambassador of Australia to the Kingdom of Saudi Arabia, the Sultanate of Oman, the Kingdom of Bahrain and the Republic ...

MSX Drops 15 PointsMuscat, 19 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (15.8) points, comprising a drop by (0.32%) to close at (4871.82) points, compared to the last session, which stood at (4887.67) points.The trading value today stood at (RO 2,049,752), comprising a decline by (74.2%), compared to the last session, which stood at (RO 7,959,408).The report released by MSX pointed out that the market value went down by (0.095%) to reach about (RO 23.91) billion.The report added that the value of shares bought by non-Omani investors reached ...

Workshop Held on Empowering Public Establishments, Governorates with Solutions, Systems Muscat, 19 Mar (ONA) --- An extensive workshop on empowering public establishments and governorates with joint national solutions and systems kicked off here today. The four-day workshop is organized by the Ministry of Transport, Communications and Information Technology within the framework of implementing the requirements of the National Programme for Digital Economy and the executive plan for the Government Digital Transformation Programme 2021-2025. The workshop aims to implement ...

MSX Drops 10 Points Muscat, 16 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (10.5) points, comprising a drop by (0.21%) to close at (4887.67) points, compared to the last session, which stood at (4898.16) points. The trading value today stood at (RO 7,959,408), comprising a decline by (8.0%), compared to the last session, which stood at (RO 8,652,901). The report released by MSX pointed out that the market value went down by (0.085%) to reach about (RO 23.94) billion. The report added that the value of shares bought by non-Omani investors ...

ASMED Launches Electronic Information System to Advise SMEsMuscat, 16 Mar (ONA) --- Acting in cooperation with the Royal Oman Police (ROP), the Authority for Small and Medium Enterprises Development (ASMED) today launched an electronic corporate information system that provides comprehensive data about companies and establishments, their locations and activities, as well as related population and economic activities. The database system will highlight promising projects and opportunities at the level of sectors and governorates. It will enable small and medium ...

OCCI Inks MoU on Opening Branch of INMECC at Muscat Muscat, 16 Mar (ONA) --- Oman Chamber of Commerce and Industry (OCCI) today signed a memorandum of understanding (MoU) with the Indo Gulf and Middle East Chamber of Commerce (INMECC) on opening a branch of INMECC at the Governorate of Muscat. The MoU was signed by Faisal Abdullah Al Rowas, Chairman of OCCI and Dr. N M Sharafudeen, Chairman of INMECC. Al Rowas lauded the Indian side’s constant keenness to bolster business relations, which in turn contributes to boosting trade exchange and enhancing export and ...

Oman Oil Price Drops 3.73 US Dollars Muscat, 16 Mar (ONA) --- Oman oil price (May Delivery) today reached 74.19 US Dollars, comprising a drop by 3.73 US Dollars from the price of yesterday (Wednesday), which was 77.92 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February ...

Oman Forum 2023 Reviews Means of Enabling Transition to Sustainability Muscat, 15 Mar (ONA) --- The 11th edition of Oman Forum 2023 held here today discussed enabling the transition towards sustainability and knowledge. The event, organized by “Alam Al Iktisaad Wal A’mal” journal, was participated by several public, private and academic establishments. The forum included several working papers and discussion panels on the strategic measures and policies taken by the Sultanate of Oman to address economic challenges and align national priorities. The panels also touched ...

Oman Wins Award in World Summit on Information Society Forum at Geneva Geneva, 15 Mar (ONA) --- The Sultanate of Oman bagged one of the awards of the World Summit on the Information Society (WSIS) Forum 2023, held in Geneva. This comes as a result of the artificial intelligence (AI) laboratory at the University of Technology and Applied Sciences in Sohar being chosen among 72 winning projects out of 900 submitted from different world countries. The award was received by Idris Abdulrahman Al Khanjari, Permanent Representative of the Sultanate of Oman to the United Nations (UN) ...

MSX Drops 30 Points Muscat, 15 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today lost (30.7) points, comprising a rise by (0.62%) to close at (4898.16) points, compared to the last session, which stood at (4928.86) points. The trading value today stood at (RO 8,652,901), comprising a drop by (41%), compared to the last session, which stood at (RO 14,676,213). The report released by MSX pointed out that the market value went down by (0.112%) to reach about (RO 23.96) billion. The report added that the value of shares bought by non-Omani investors reached ...

Oman Oil Price Drops 1.26 US Dollars Muscat, 15 Mar (ONA) --- Oman oil price (May Delivery) today reached 77.92 US Dollars, comprising a drop by 1.26 US Dollars from the price of yesterday (Tuesday), which was 79.18 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/AG ...

Agreements Worth Over RO 20 Billion for Green Hydrogen Projects in Oman Inked Muscat, 14 Mar (ONA) --- Hydrogen Oman “Hydrom” company, a subsidiary of Energy Development Oman (EDO), today signed 6 term-sheet agreements with a number of developers to invest in green hydrogen projects in the Sultanate of Oman, to the tune of more than RO 20 billion over the next seven years. These term-sheet agreements were signed with developers from Belgium, the Netherlands, the United Kingdom, Japan, Singapore, Germany, India, Kuwait and the United Arab Emirates. The production ...

MSX Gains 26 Points Muscat, 14 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (26.6) points, comprising a rise by (0.54%) to close at (4920.63) points, compared to the last session, which stood at (4894.01) points. The trading value today stood at (RO 14,676,751), comprising a surge by (223.2%), compared to the last session, which stood at (RO 4,540,751). The report released by MSX pointed out that the market value went down by (0.052%) to reach about (RO 23.98) billion. The report added that the value of shares bought by ...

PDO’s Production of Oil, Gas Reaches 660K Barrels During 2022Muscat, 14 Mar (ONA) --- Petroleum Development Oman (PDO) announced that it achieved good results in 2022. The company’s oil and gas production reached 660,000 barrels as a result of improving the efficiency of fields and developing them using modern production technologies. This was announced during a media meeting organized today by PDO at Oman Convention and Exhibition Centre (OCEC). Steve Phimster, Managing Director of PDO, said that the company aspires during the coming years to increase its oil and gas production ...

Heads of GCC Capital Market Authorities Hold MeetingMuscat, 14 Mar (ONA) --- The committee of Heads of GCC Capital Market Authorities today held its 26th meeting under the chairmanship of Abdullah Salim Al Salmi, CEO of the Capital Market Authority (CMA), Chairman of the committee’s current session. The committee discussed a spectrum of topics, namely a report on the performance and developments of GCC capital markets in 2022, among other topics. --- Ends/AG ...

Seven Projects Inked to Design Layouts, Future Cities in Oman Muscat, 14 Mar (ONA) --- The Ministry of Housing and Urban Planning today signed 7 agreements to assign the designing of layouts and future cities distributed over various governorates of the Sultanate of Oman. These agreements come in implementation of urban regional strategies and to pursue balanced urban development in all governorates. The agreements were signed on behalf of the Ministry by Eng. Ibrahim Hammoud Al Waeli, Director of the Urban Strategy Office with officials of companies in the field of urban ...

Abraaj Energy Services Shares Listed on MSX Muscat, 14 Mar (ONA) --- Muscat Stock Exchange (MSX) celebrated today the listing and start of trading the shares of Abraaj Energy Services company. Abraaj Energy Services is considered the first company to undergo an initial public offering (IPO) within the framework of the exit plan led by Oman Investment Authority (OIA). The listing ceremony was attended by Abdulsalam Mohammed Al Murshidi, Chairman of OIA, Mohammed Mahfoud Al Ardhi, Chairman of MSX Board of Directors, and several stakeholders and businesspeople in the ...

Be’ah Inks MoU with Oman Cement Company, Agreement With Sohar UniversityMuscat, 14 Mar (ONA) --- Oman Environmental Service Holding Company “be’ah” and Oman Cement Company today signed a memorandum of understanding (MoU) to use Refuse-Derived Fuel (RDF) as an alternative fuel in cement manufacturing.Signing the MoU comes within the framework of Oman Sustainability Week, which is held at Oman Convention and Exhibition Centre (OCEC) from 12 to 16 March 2023. The MoU was signed by Eng. Tariq Ali Al Amri, CEO of be'ah, and Eng. Salem Abdullah Al Hajri, CEO of Oman Cement ...

Tender Results of Government Treasury Bills Worth RO 12.10 Million Issued This WeekMuscat, 14 Mar (ONA) --- The total issuance of Government Treasury Bills amounted to RO 12.10 million. The value of the allotted Treasury bills amounted to RO 10.40 million, for a maturity period of 28 days. The average accepted price reached RO 99.652 for every RO 100, and the minimum accepted price arrived at RO 99.650 per RO 100. The average discount rate and the average yield reached 4.53743% and 4.55328%, respectively.Whereas, the value of the allotted Treasury bills amounted to RO 1.70 million, ...

Oman Oil Price Drops 3.28 US Dollars Muscat, 14 Mar (ONA) --- Oman oil price (May Delivery) today reached 79.18 US Dollars, comprising a drop by 3.28 US Dollars from the price of yesterday (Monday), which was 82.46 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/AG ...

OIA Begins Exit Process from Oman Cement Company Muscat, 13 Mar (ONA) --- Oman Investment Authority (OIA) began the exit process from Oman Cement Company, in which the authority owns a majority share, to a strategic foreign investor “Huaxin Cement Company Ltd”. Ibrahim Said Al Eisri, Director of Private Equity at OIA said that OIA’s exit from Oman Cement Company comes within the framework of the authority’s plan to achieve several goals, namely attracting foreign investments to the Sultanate of Oman. --- Ends/AG ...

MSX Gains 31 PointsMuscat, 13 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (31.7) points, comprising a rise by (0.65%) to close at (4894.01) points, compared to the last session, which stood at (4862.32) points.The trading value today stood at (RO 4,540,751), comprising an increase by (8.5%), compared to the last session, which stood at (RO 4,186,716).The report released by MSX pointed out that the market value went up by (0.095%) to reach about (RO 23.99) billion.The report added that the value of shares bought by non-Omani investors reached ...

Activities of Oman Sustainability Week Kick off Muscat, 13 Mar (ONA) --- Activities of Oman Sustainability Week 2023 kicked off today at Oman Convention and Exhibition Centre (OCEC). The event, which is expected to attract 7,000 participants and over 100 speakers, aims to increase awareness on issues related to sustainability and related concepts. Many experts in the fields of energy, the environment and water resources are taking part in the event. Oman Sustainability Week highlights the importance of sustainable practices, preserving natural resources and achieving sustainability ...

State Budget Achieves RO 145 Million Surplus Muscat, 13 Mar (ONA) --- The State Budget achieved a surplus of RO 145 million at the of January 2023, compared to a surplus of RO 18 million registered over the same period in 2022, according to the Fiscal Performance Monthly Bulletin published by the Ministry of Finance. Public revenue at the end of January 2023 surged by 22% to reach RO 982 compared to RO 804 million registered over the same period in 2022. This is mainly due to an increase in oil and gas revenues, representing 88% of total public revenue. Net oil revenue ...

Oman Oil Price Rises 2.17 US Dollars Muscat, 13 Mar (ONA) --- Oman oil price (May Delivery) today reached 82.46 US Dollars, comprising a rise by 2.17 US Dollars from the price of last (Friday), which was 80.29 US Dollars. The average price of Oman oil (March Delivery) has stabilized at 80.92 US Dollars per barrel, thus 3.49 US Dollars per barrel higher than February Delivery. --- Ends/AG ...

MSX Gains 12 Points Muscat, 12 Mar (ONA) --- Muscat Stock Exchange (MSX) general index (30) today gained (12.8) points, comprising a rise by (0.26%) to close at (4862.32) points, compared to the last session, which stood at (4849.54) points. The trading value today stood at (RO 4,186,716), comprising a surge by (49.9%), compared to the last session, which stood at (RO 2,793,733). The report released by MSX pointed out that the market value went up by (0.031%) to reach about (RO 23.97) billion. The report added that the value of shares bought by non-Omani investors reached ...

Real Estate Development Conference, Oman Design and Build Week 2023 Kick off Muscat, 12 Mar (ONA) --- Activities of the Real Estate Development Conference and Oman Design and Build Week 2023 kicked off today at Oman Convention and Exhibition Centre (OCEC) under the patronage of HH Sayyid Asa'ad bin Tarik Al Said, Deputy Prime Minister for International Relations and Cooperation Affairs, Personal Representative of His Majesty the Sultan.In a press statement, HH Sayyid Asa’ad underscored the Sultanate of Oman's investment-enhancing elements, notably in the real estate sector. He ...

Production of Electricity, Water by December 2022 Increases Muscat, 12 Mar (ONA) --- The Sultanate of Oman’s total production of electricity increased by 8.1 percent till the end of December 2022 to reach 41,747.4 GW per hour compared to 38,630.4 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 10.2 percent, to reach 4,236.7 GW per hour till the end of December 2022. The governorates of North Al Batinah, South Al ...

PASI Meeting Reviews Administrative, Investment Projects Muscat, 9 Mar (ONA) --- The Board of Directors of the Public Authority for Social Insurance (PASI) held its first meeting for 2023 under the chairmanship of Dr. Mahad Said BaOwain, Minister of Labour, Chairman of the board. The meeting reviewed the performance of the public authority and outcomes of implementing some administrative and investment projects. The board also discussed various topics submitted by the executive management of PASI. --- Ends/AG ...