Adul Wahid Al Farsi, VP Corporate Affairs, Omran, the tourism development arm of the government, talks to Phil Blizzard at the Al Bustan Palace about their tourism targets in terms of the number of visitors and key projects. The interview took place on the occasion of the Oman Investment Forum organised by MEED.
Raoul Restucci, managing director of Petroleum Development Oman (PDO) has announced the firm aims to produce 1.1 million barrels of oil equivalent (BOE) per day this year, Muscat Daily has reported. The Sultanate’s largest oil and gas producer also plans to raise its production to 1.2 million BOE per day by 2014, he said. “Our [...]
OPEC is considering raising oil supply targets for the first time since 2007, a move that could weaken $100 oil prices that have dragged on global economic growth.
Iraq: The Iraqi oil ministry will today sign the final contract over West al-Qarna-2 oilfield with Russia’s Lukoil and Norway’s Statoil, Aswat al-Iraq has reported. “The two companies pledged to up production to a peak of 1.8 million barrels per day at a rate of $1.15 per barrel of additional produced barrel,” oil ministry spokesman, [...]
Iraq: Iraq’s oil minister has said he expects the country to become the world’s top oil producer within six to seven years, Reuters has reported. “We can’t find a reason to prevent Iraqi production becoming higher than any other Opec state or even states outside Opec,” Hussain al-Shahristani said. Unlike Opec’s 11 other members, Baghdad [...]