Oman runs hard to stand still
The sultanate’s long-term oil ambitions are modest, but the urgent appetite for fresh gas supply remains
Oman’s oil sector ambitions, set out in the government’s latest five-year development plan unveiled at the turn of the year, appear modest at first glance. Production is forecast to rise next year by a relatively unspectacular 10pc, to 1.1mn bl/d, and stay there until mid-decade. But this-near stasis is, in fact, hard-won—a mark of success in the constant battle to staunch and offset declines at the country’s maturing main fields. Meanwhile, the pacey industrial growth that forms a key plank of the country’s economic roadmap requires continued development of domestic gas resources to ease a precarious supply/demand balance. Economics challenge While modest oil output increments are targeted,
Also in this section
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
22 April 2026
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
