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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24 December 2025
As activity in the US Gulf has stagnated at a lower level, the government is taking steps to encourage fresh exploration and bolster field development work
23 December 2025
The new government has brought stability and security to the country, with the door now open to international investment
23 December 2025
A third wave of LNG supply is coming, and with it a likely oversupply of the fuel by 2028
22 December 2025
Weakening climate resolve in the developed world and rapidly growing demand in developing countries means peak oil is still a long way away
