In May 2018 local energy firm Elite Petrochemical inaugurated the first stage of a $128m LPG import and distribution facility in the Thilawa Special Economic Zone, located 25 km south of Yangon. The terminal and hub, developed under a build-operate-transfer model, includes a jetty for cargo handling and a 3000-tonne storage tank farm. The...
The sultanate’s continuing efforts to boost extraction, develop greenfields and refine its processing capacity are largely intended to support trade links that ultimately see the vast majority of its oil consumed far afield from Oman itself. According to data from the National Centre for Statistics and Information (NCSI), of the 265.5m barrels...
In April 2018 the foundation was laid for one of the sultanate’s largest engineering ventures – the $7bn integrated refinery at Duqm. Indeed, according to industry media, its construction will account for some 8% of Oman’s entire GDP in the years preceding its completion in 2022. The refinery will form a key part of the country’s overall oil...
The oil and gas sector is responsible for much of Oman’s economic growth and government revenue, thus changes in the industry tend to reflect greatly on the sultanate’s overall development. Although recent years have seen progress towards diversification goals, hydrocarbons activity still attracts a large share of domestic and foreign...
The recent period of low global oil and gas prices has led to an increased incentivisation to streamline and rationalise the hydrocarbons sector’s administrative and corporate structures. Oman is a key player in this attempt to streamline, and recently there has been significant merging and rebranding of organisations that have traditionally...
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