On Monday, Oman’s Oil and Gas Minister Mohammed bin Hamad Al Rumhy said that over the next three years, the country will invest between USD10-15 billion in the oil and gas sector.
“The allocation will mostly be focused on the petrochemical industries as there are many foreign companies in Oman’s energy sector,” he said.
The Minister also reiterated Oman’s commitment to the Organization of Petroleum Exporting Countries and its non-member oil producer allies (OPEC+) oil production cut pact. According to him, the oil price of USD60/barrel is suitable for Oman and good for the country’s economy.
