VOL. XL

No. 11

17-March-1997

OMAN

Shell Marketing Oman To Float Shares On MSM

Shell Marketing (Oman), currently wholly-owned by Shell Group,is planning to float "at least 40%" and possibly up to 51% of its shares on theMuscat Securities Market (MSM) within the next two months. The general manager of ShellMarketing (Oman), Mr. Tim Ford, told AP Dow-Jones on 12 March that the reason for theflotation is mainly to avoid the penal rates of taxation to which wholly foreign-ownedcompanies in Oman...