Oman Energy Sector Research Highlights
Oman Energy Sector Research Highlights
How rising global oil prices are impacting shift towards renewablesOBGplus
After opening 2022 at around $78 per barrel, Brent crude oil prices rose sharply over the next few months to surpass $127 on March 8 – the highest price in 14 years, driven in part by Russia’s invasion of Ukraine – before moderating slightly to around $106 as of mid-March. Although investment in oil and gas has fallen by about 30% since the outbreak of the Covid-19 pandemic, there are signs…
Hydrogen key to GCC energy transitionOBGplus
With hydrocarbons-rich countries in the Gulf increasingly looking to reduce their carbon emissions, some in the region are turning to multi-coloured hydrogen as a more environmentally sustainable solution. Along with renewable sources like solar and wind, hydrogen is regarded as a potential low-carbon or zero-carbon fuel that is key to the transition away from fossil fuels. However, different types…
Renewables to help Oman reach green hydrogen targetsOBGplus
With the development of a global hydrogen-based economy presenting a significant avenue to advance economic transformation across the GCC, Oman, Saudi Arabia and the UAE have taken the lead in exploring such opportunities. While Saudi Arabia and the UAE are developing general hydrogen strategies, Oman is focusing specifically on green hydrogen generated from renewable or low-carbon energy sources. Opportunities Oman…
Carbon capture and hydrogen to support GCC clean energy transitionOBGplus
As hydrocarbons producers reap sustained revenue from high global prices, national oil companies (NOCs) in the Gulf are accelerating investment in carbon capture, utilisation and storage (CCUS); hydrogen; and cleaner sources of energy to make their activities less carbon-intensive and support the energy transition. Gulf NOCs’ low-cost production advantages and massive hydrocarbons resources mean…
How technology contributes to rise in Oman’s oil productionOBGplus
Ever since Oman’s oil production exceeded 1m barrels per day (bpd) in 2016, the sultanate has strived to maintain a comparable daily output. Despite the drop in production resulting from the onset of the Covid-19 pandemic in March 2020, which crippled global crude demand, Oman’s production of crude and condensates – a light type of crude oil derived from gas production – rebounded from its…
Untapped resources: Plans to expand the mining sector through regulatory changesOBGplus
With mineral mining a major focal point of the Omani government’s plans to diversify the country’s economy, the sector has seen revitalised interest in recent years, from both domestic and foreign investors. The sector’s newly adopted strategy to develop through comprehensive, large-scale concession agreements is opening up more territory and streamlining the business side. New geological surveys…
How Oman’s energy sector is transitioning to clean fuelsOBGplus
As Russia’s invasion of Ukraine and climate change continue to disrupt market dynamics, the transition to cleaner sources of energy has never been in sharper focus. Oman’s policy response is guided by Oman Vision 2040, which aims to put the economy on a more diversified and sustainable footing, while protecting the environment and improving livelihoods. Other notable initiatives include the country’s…
Farrokh J Masani, Executive Director, Mining and Quarrying, Al Tasnim Group: InterviewOBGplus
Interview: Farrokh J Masani How do you assess opportunities for investment in the sultanate’s mining sector? FARROKH J MASANI: Oman’s wealth of resources, many of which remain untapped, offer ample opportunities to generate revenue for the country. We see significant investment opportunities in mining, given the scale of mineral resources available in the country and the government’s restructuring…
Nasser Al Maqbali, CEO, Minerals Development Oman (MDO): InterviewOBGplus
Interview: Nasser Al Maqbali How have regulatory changes affected foreign direct investment in the sector, and what are the main opportunities for expansion? NASSER AL MAQBALI: The sector has been transforming since the main governing body changed from the Public Authority for Mining to the Ministry of Energy and Minerals in August 2020. The ministry allocated 12 concession areas to MDO in March 2022…