April 21, 2017    1 minute read

Oman Catches Privatisation Bug

Oman Catches Privatisation Bug

The sultanate’s oil minister said it is looking into privatising parts of its state-owned energy infrastructure.

Editor’s Remarks: Oman could end up selling some major downstream assets (those involved in the post-extraction part of the oil industry) as it looks to deal with the general slump in crude prices in the short-to-medium term, and in the longer term diversify its economy – and deal with its deep budget deficit, which now stands at 17% of GDP. It looks as though Oman has been influenced by Saudi Arabia’s decision to float a stake in its state-owned oil-producing giant Saudi Aramco, though Oman’s plan differs from its Gulf neighbour in that it has ruled out selling any upstream assets.

What to watch: Mohammed al-Rumhy, Salalah Methanol Company, Gulf Cooperation Council, Saudi Aramco IPO

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