VOL. XXXVII

NO. 26

28-MARCH-1994

Oman

PDO Decides To Cut 1994 Expenditure By $100Mn

Petroleum Development Oman (PDO) has announced that it has decided to cut itsbudget expenditures for 1994 by $100mn to absorb a drop in world crude oilprices. The cut was approved at a PDO board meeting held on 22 March. It isunderstood that the expenditure reduction will only affect upgrading andmaintenance projects and non-essential infrastructural work, but not plans toraise the company's production capacity to...