Sabic's first investment outside of Saudi Arabia
Oman enters 2023 on a high
International commitments to its expanding petchems and LNG industries are a huge boon
Muscat sealed deals with Riyadh and Tokyo critical to the future of its petrochemicals and LNG industries as 2022 drew to a close. The agreements are also crucial to the sultanate on a macroeconomic basis, as production from its relatively meagre and high-cost crude reserves is set to enter terminal decline. Expansion of the local petchems industry—initially with liquids feedstock due to a recent chronic gas shortage—has long been central to Muscat’s strategy to diversify exports and fiscal receipts away from crude and expand domestic manufacturing, creating urgently needed jobs. The state has pursued the goal with notable single-mindedness, paying for the construction of the largest project
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21 December 2021
The worst possible future for the country’s oil producers goes underexplored in scenario planning
21 December 2021
Production from the Heron field could peak at 9,000bl/d and feed both exports and the domestic market
16 December 2021
The JV assumes the role of Rumaila’s main contractor as a new production target is set
16 December 2021
Supply is gradually returning, but the market will remain tight into next year
