With high energy prices and supply chain disruptions creating shortages of renewable energy components and materials, emerging markets are reassessing how to build out utility-scale solar power to accelerate their energy transitions. After more than a decade of decline, the cost of solar photovoltaic (PV) panels has risen around the world, due primarily to the increasing cost of solar-grade polysilicon…
The EU has continued to scale back its reliance on Russian oil, deepening its strategic response to Russia’s ongoing war in Ukraine. After the bloc imposed bans on Russian seaborne crude in December 2022 and oil products in February 2023, the region has systematically sought alternative suppliers. In 2024 EU petroleum oil imports fell by 2.4% in volume and 4.7% in value compared to 2023, reflecting…
The energy transition advanced in 2023 despite geopolitical tensions, supply chain disruptions and inflationary pressures that maintained elevated energy prices globally. Prices fell from 2022’s historic peaks but remained higher than pre-2020 levels, potentially signalling a turning point in the shift from hydrocarbon dependence toward lower-cost clean energy alternatives. Hydrocarbons’ uneven…
Oil and gas activities account for around one-third of Oman’s GDP, making hydrocarbons the largest contributor to the country’s economy and integral to job creation and export receipts. Exploration and production activities present lucrative opportunities for international investors, as do required upgrades to sections of the sultanate’s hydrocarbons infrastructure. While remaining focused on…
In January 2025 Oman exported its first shipment of copper concentrate in 30 years, a major symbolic step in the revitalisation of the sultanate’s mining sector. Government-owned mining company Minerals Development Oman (MDO) is overseeing 12 concession areas to grow domestic production of in-demand minerals such as iron, copper and silica. In addition, MDO is expanding existing production capacity…
Oil and gas remain the largest contributors to Oman’s economy, accounting for about a third of its GDP and playing a key role in employment and exports. Exploration, production and infrastructure upgrades in this sector offer significant opportunities for international investment. While the country continues to maximise the value of its remaining hydrocarbons resources, it is also positioning itself…
Oman’s mining sector is undergoing a significant revival, marked by the recent export of copper concentrate for the first time in decades. This milestone highlights the country’s efforts to boost domestic mineral production, focusing on resources such as copper, iron and silica, as well as expanding capacity for materials like limestone and marble. The sector’s development is supported by dedicated…
Oman is actively diversifying its economy as part of its Oman Vision 2040 strategy, reducing its reliance on hydrocarbons by expanding sectors like agriculture, fisheries, manufacturing, and banking. The government’s focus on sustainable development is driving growth, particularly through strategic reforms, infrastructure projects and investment in renewable energy...
ISEM Oman Solar Energy Exhibition & Conference 2025 is taking place on 08-09 December 2025 at the Sheraton Oman Hotel. "Oman aims to raise the share of renewable energy to 30% by 2030 then 60% - 70% by 2040 and ultimately reaching 100% by 2050". The event is designed in line with Oman's National Vision 2040 and it's official target to reach 4,000 MW of renewable energy capacity by 2030, leading…
Read the report in Arabic Oman is embarking on a transformative journey under Vision 2040, combining innovation and sustainability to redefine its economic landscape. This report showcases the sultanate’s wide-ranging efforts to position itself as a global leader in green hydrogen, renewable energy and digital transformation while capitalising on its strategic location as a logistics…
