The sultanate’s geographic position on the Arabian Peninsula, in close proximity to the Arabian Gulf and the Gulf of Oman, but outside the Strait of Hormuz, has given it the region’s best access to one of the world’s most important energy corridors. Following several years of declining output in the 2000s, plans are under way to increase crude oil production, and the...
The Middle East
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Articles & Analysis | Increasing solar-fired enhanced oil recovery could have a significant economic impact from The Report: Oman 2015
Over the past 10 years, Oman’s maturing oilfields have increasingly relied on enhanced oil recovery (EOR) technologies, which have seen current production return close to levels not witnessed in 15 years. With EOR expected to comprise a quarter of state-owned Petroleum Development Oman’s (PDO) total oil production by 2020, the sultanate has seen natural gas usage in...
Interviews & Viewpoints | Harib Al Kitani, CEO, Oman LNG: Interview from The Report: Oman 2015
As it seeks to keep up with the growing demand for gas, how is Oman addressing capacity-related constraints in the upstream gas segment?
Articles & Analysis | The nascent Islamic insurance industry is poised to gain market share from The Report: Oman 2015
In 2013 and the first half of 2014, Oman’s takaful (Islamic insurance) segment moved to the forefront of the wider insurance industry. While sharia-compliant financial products have been allowed in the country since 2011, sharia-compliant underwriting was officially sanctioned only in 2013, and the first takaful firms did not begin the process of setting up shop until...
Interviews & Viewpoints | Ali Abduladheem Al Lawati, Chairman, Oman Insurance Association: Interview from The Report: Oman 2015
From the private sector’s view, what are the most influential changes under the new insurance law from the Capital Market Authority (CMA)?
Articles & Analysis | Recent changes herald the beginning of a new phase from The Report: Oman 2015
A raft of new legislation and development plans put in place in 2014 have the potential to bring about a sea change in Oman’s insurance sector in the coming years. In August 2014 the Capital Market Authority (CMA), the industry regulator, introduced a number of amendments to Oman’s insurance law, requiring underwriters to raise their minimum paid-up capital to OR10m ($25...