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
Also in this section
10 May 2024
The US’ contentious LNG permitting pause has prompted criticism from CEOs and wildly differing interpretations from politicians
9 May 2024
Pipeline boosts Canada’s oil industry by widening its export options, making it less reliant on US market and bringing Asia into the mix
8 May 2024
Despite Australia’s first import terminal nearing completion, the prospect of additional regasification projects is far from certain