As Egypt enters 2018, a newly liberalised local currency and the recent implementation of a much-anticipated investment framework have left the country well positioned for continued economic expansion: the IMF expects GDP growth to reach 4.5% in 2018 and accelerate to around 6% over the medium term.
The strong headwinds of 2017 in Oman’s oil and gas sector have spurred authorities to develop new sources of revenue. Despite recovering to 2015 levels of $55 a barrel, the steep fall in prices that saw Omani crude fall from $103 per barrel in 2014 to $40 in 2016 has squeezed state finances and added urgency to diversification efforts. On the...
Offering no major baskets of reservoirs or readily accessible resources waiting for discovery, Oman is generally a challenging geography for oil exploration. With the majority of the country’s onshore sweet oil having been identified and exploited, most of the remaining open concession blocks in the country tend to be better suited to...
Used as a primary fuel resource in power generation, water production, and upstream and downstream hydrocarbons activities, natural gas is central to Oman’s economy. The sultanate has always run at a natural gas capacity shortage and has historically relied on partially state-owned Petroleum Development Oman (PDO) to produce 70% of the country...
As part of Oman’s broader strategy for economic diversification, efforts to position the sultanate as an international centre for the storage of crude oil and its derivatives are well under way. At the heart of the country’s appeal is its strategic location, which offers easy access to a range of markets in South Asia, the East and Africa, as...
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