OMAN

Oman May Cut Oil Investment If Oil Prices Remain Subdued

Having previously brushed off suggestions of lower oil prices impacting its future upstream plans, Oman now acknowledges that investment will likely be cut if prices remain at $50-60/B for a sustained period.

Oman is considering shelving some planned oil and gas sector projects should global oil prices remain at current levels over the mid- to long-term, undersecretary to the Ministry of Oil and Gas (MOG) Salim al-Oufi said...