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Oman Signs Oil, Gas Exploration Deal With US PetroTel

Under the agreement the company will explore for oil and natural gas in Blocks 39 and 67.

Intercontinental’s Crowne Plaza Chosen For Oman Convention Centre

Three more hotels are due to open on site, a five-star property, another four-star hotel and a three-star hotel and apartments.

Oman’s Bank Dhofar Gets $68m After Court Ruling Overturned

The Omani bank lost a court case in June 2011 against Oman International Bank, Ali Redha Trading and Muttrah Holding.

Oman’s Bank Muscat To Price $500m Bond

Despite attracting more than $2.5 billion of demand so far the size of the bond will not be increased.

Thousands Of South Asian Workers Strike At Oman Airport

Workers are demanding better safety conditions after a worker died in an accident on Monday.

Bank Muscat Picks Banks For Potential Bond

The meetings will start in Riyadh before going to Singapore, Hong Kong, the United Arab Emirates, Switzerland and London.

Oman Sees BP Tight Gas Deal In Weeks

Omani gas production has risen sharply over the last decade and the country remains a net gas exporter.

Oman’s 2012 Average Daily Oil Output Up At 918,000 bpd

Average oil production in the country was at 884,900 bpd in 2011.

Oman’s 2012 Oil Output Rose 4%

The increase was due to new discoveries in three different oil fields as an average of 918,000 bpd were produced.

Special Country Report: Oman

As its oil reserves dwindle, is Oman’s focus on diversification and privatisation enough to keep the economy ticking?

Oman’s Sohar Refinery Shuts Thurs For 46 Days Of Maintenance

The refinery is expected to restart around April 15.

Dubai Group Unit Sells 41.1% ONIC Stake To Oman Fund

The asset sale is part of the Dubai Group’s $6 billion restructuring process, said officials.

Oman’s Bank Muscat Hit By $39m Prepaid Card Fraud

The lender said 12 prepaid travel cards were compromised outside of Oman.

Oman Seeks Consolidation In Financial Sector

There are now 18 banks in the sultanate after last year’s merger between the local business of HSBC Holdings and Oman International Bank.

Oman’s Bank Muscat Gets $195m Equity Investment

International Finance Corp is to buy into the lender with a 5.28 per cent private share placement.

Oman Posts $8.4bn Budget Surplus For 2012

The surplus is equivalent to 12 per cent of the sultanate’s 2011 GDP.

Oman Airport Reopens After Closure Due To Crash Landing

A Pakistan International Airlines plane crash-landed on a runway at Muscat International Airport.

Muscat Airport Closed After Plane Crash Lands

The Pakistan International Airlines plane had 70 people on board but no injuries were reported.

Bank Muscat Forecasts 14-15% Growth

Oman will again spend heavily in 2013 on job creation and infrastructure projects.

Oman Raises Minimum Wage To Avert Future Protests

Expatriate numbers are to be reduced from 39 per cent of Oman’s population to 33 per cent.

Oman’s Ruler Takes Economic Policy To People

Sultan Qaboos bin Said has revived a custom of travelling on month-long tours around Oman, holding “consultation sessions” with local people.

Oman Air Targets Subcontinent Growth

The expansion comes after the Sultanate signed MoUs with India and Pakistan to boost air services last November

HSBC’s Oman Unit Sees 62.7% Drop In 2012 Profit

HSBC Bank Oman, formed by a merger of HSBC’s Oman unit and Oman International Bank, made a net profit of OMR5.8 million in 2012.

Oman Plans To Build $1.5bn Medical Complex

The government-funded project will cover five million square metres and will be built in the Batnah region.

Oman Telco Nawras Extends Profit Slump For Q4

The firm reported a Q4 net profit of 10.3 million rials, down from 11.9 million in 2011.

National Bank Of Oman Q4 Profit Jumps 48%

Full-year 2012 profits stood at OMR40.7 million, up 19 per cent compared to 2011.

Oman Mulls Hiring Of Expatriate Workers

The Council of Ministers wants to identify the type of businesses that Omanis should be encouraged to set up.

Oman Plans To Merge State Pension Funds

The Gulf state aims to merge eight state-run pension funds to improve efficiency.

Banking Special: Good Growth Prospects In Oman

Oman’s economy and its banking sector are performing well.

State Spending Could Spur Oman’s Tiny Bourse

Oman’s stock index rose 1.2 per cent last year and outperformed Qatar and Bahrain.