Oil & Gas

Muscat, May 11 (ONA)--- The monthly report released by the Oil and Gas Ministry pointed out that the Sultanate's crude oil and condensates production in April 2012 amounted to (26,645,094)  barrel or (888,170) barrel per day, a (1.97%) rise in comparison with the same period 2011.

The monthly report also added that the total exported crude oil in April 2012 amounted to (23,123,484) barrel, an average of (770,783) barrel per day.

The report pointed out that the Asian markets have received, as usual, the bulk share of the Omani crude oil exports. China topped the list of the Omani crude importers in April 2012 with (58.39 %), followed by Japan (14.25%) and Thailand with (9.08%).  

Muscat, May 8th 2012 – Oman Oil Marketing Company (omanoil) hosted prominent Islamic speaker, Sheikh Suleiman Abdulaziz Al Jubailan, as part of its collaboration with Rekaaz to campaign against peer pressure. Hosted at the company’s head office in Mina Al Fahal, the Sheikh reiterated the worth of ethical collective practices in cultivating social development.

Hailing from the Kingdom of Saudi Arabia, Sheikh Al Jubailan expressed that our social fabric is sewn together with the threads of virtue and benevolence, and a great society consists of people with self-respect as well as respect for others.

Gulf Petrochem Group, a leading player in the oil industry, has appointed Sagar Vaghani as senior trader at its Dubai office. Bringing over 10 years of professional experience in the UK, Middle East and Africa, Vaghani will be responsible for initiating trade for middle distillates, reinforcing the company’s expansion initiatives in key markets across the globe.

Sanjeev Sisaudia - Group CEO, Gulf Petrochem Group, said: “Initiating middle distillates trading will help sustain the gains we have achieved in the Middle East and give us greater leverage to further strengthen our presence globally. We ensure our commitment to product and service excellence as we continue to employ experienced industry professionals.”

2 May 2012 (Geneva) - The International Air Transport Association (IATA) announced global traffic results for March showing that total passenger demand rose 7.6% and freight demand climbed 0.3% compared to the same month last year.

Comparisons with March last year are affected by events that depressed passenger demand in 2011, including the Arab Spring, which disrupted travel in the Middle East and North Africa beginning in February 2011 and the earthquake and tsunami in Japan in March 2011 that impacted air travel across the Asia-Pacific region. IATA estimates that the year-on-year rise in air travel in March was about two percentage points higher than it would otherwise have been in the absence of these events.

Regional growth remains strong, although below exceptional 2011 level.
G C C b a n k s s e e n a s w e ll c a p it a li z e d a n d p r o f it a b le .

Dubai, UAE & Washington DC, April 18, 2012 - The Gulf Cooperation Council (GCC) countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE), possessing 40% of proven world oil reserves, have spare oil production capacity now of 2.5 to 3 million barrels per day and are positioned to meet any possible shortfall in supplies to world markets as a result of possible declines in Iranian exports as a result of sanctions, said the Institute of International Finance (IIF).

The IIF is the leading global association of financial services firms with more than 450 member institutions. It expects that average oil prices will be about $114 per barrel through 2012 with GCC oil production this year at 17.3 million barrels per day, after 16.5 million in 2011. The IIF forecasts that the GCC's external current account surplus is likely to rise to a new record of $358 billion this year, up from an estimated $327 billion in 2011.

Marking its ambitious retail expansion plan, Oman Oil Marketing Company (omanoil) has opened the first filling station and ahlain convenience store of 2012 in Aqar New, located in Al-Batinah Governorate.

On Monday, April 16, pioneer and leading exhibitions and conferences organiser Omanexpo will present a surprising but interesting twist to the otherwise traditional inauguration ceremony of the much-awaited OGWA (Oil & Gas West Asia) 2012. This is part of the company’s initiatives to take its shows to a new level by implementing significant changes that reflect the importance that it is giving to the industry.

OGWA, established and recognised as one of the biggest and most significant oil and gas events in the Middle East region, will be formally opened by the personal representative of His Majesty Sultan Qaboos, His Highness Sayyid As’ad bin Tariq bin Taimur al Said at the Oman International Exhibition Centre.

The inauguration entourage, consisting of the most distinguished dignitaries, ministers, ambassadors, diplomatic corps members, and executives of the SABCO Group, will convene at the Al Hossen Ballroom of the Golden Tulip Hotel and will commence with a welcome speech by Dr. Zaid Al Siyabi, Chairman of the OGWA 2012 SPE EOR Conference. It will also include executive speeches by PDO Managing Director Raoul Restucci and 2012 SPE President Alan Labastie.

Muscat, April 3rd 2012 – Oman Oil Marketing Company (omanoil) crowned Al Mashariq School Football Team as the champions of the company-sponsored Football Tournament for Muscat Schools, in association with the Ministry of Education. At the award ceremony held at Sultan Qaboos Sports Complex, guests of Honor, Mohammed bin Moosa Al-Kindi, Deputy Director-General for Educational Affairs at the Ministry of Education and omanoil General Manager of Corporate Affairs, Business Development and Procurement, Eng. Nabeel Al Ruwaidhi, presented medals and certificates to the winners.

Out of the 490 football talents and 51 schools that participated, the Ghala School and Al Mashariq School Football Teams made it to the finale of the youth tournament. Battling for gold, Al Mashariq won by two goals in an exciting match that exemplified the students’ footballing finesse underlined by technical skill and determination.