Search Another Persian Gulf oil producer considers public offering

Another Persian Gulf oil producer considers public offering ...
rt.com 22/04/2017 Economy

Keywords:#2015, #Arab, #Bloomberg, #Britain, #German, #Hungarian, #IPO, #Oil_Minister, #Oman, #Persian, #Persian_Gulf, #Qatar, #Reuters, #Rt.com, #Saudi, #Saudi_Aramco, #Sultan, #UK

Sultan Qaboos bin Said, the head of state of Oman © Ahmed Jadallah / Reuters

man's state-owned energy producer Oman Oil is thinking about selling some of its assets and listing on the local stock market. This follows the planned initial public offering (IPO) by Saudi Aramco.
The oil and gas producer is reportedly seeking advice from banks on offering its shares to the public.
Oman Oil plans to attract more foreign investment into the country, according to the sultanate’s Oil Minister Mohammed Al Rumhy, as quoted by Bloomberg.
“We are looking at the IPO option because we want to give a boost to the local stock market, and we want to see more foreign direct investments coming to the country,” Al Rumhy said in the interview.
The recent decline in oil prices forced members of the Gulf Cooperation Council, an organization of six Arab energy-producing monarchies to make steps toward restructuring their national oil companies – selling shares, merging units and cutting costs.
Saudi Aramco is planning an initial public offering, which may raise about $100 billion and become the world’s largest IPO, according to the kingdom’s authorities. Qatar Petroleum announced the merger of its two liquefied natural gas divisions following massive layoffs in 2015.
Along with the peers, Oman started extending its energy industry, developing new sources of income amid low oil prices, which had a notable impact on state revenues. The sultanate is constructing a port and metals factory in the Arabian Sea town of Duqm.
Qatar increases UK investment despite Brexit https://t.co/OwBVm0i4TK Britain is a very good investment now
— Eric Wolfgang (@wolfgangeric3) March 29, 2017
Oman Oil owns stakes in Hungarian oil and gas company MOL Group, Oman Gas, German logistics service provider Oiltanking and the Musandam power plant. In a move to go beyond refining, the corporation agreed to buy chemicals manufacturer Oxea from Advent International four years ago.
The government is not going to sell shares in state-owned Petroleum Development Oman (PDO), according to Al Rumhy. The company accounts for more than 70 percent of the country’s crude production and almost all of its natural gas supply.
--- ---
...

Read more from Source »

Related articles based on keyword density
GLOBAL TOP 1000 WEBSITES 2016 – Ratak IT...
ratak.ir 16/03/2017 News
Ratak introduces global Top Websites of 2016 Data for table Top201702 1 1host2u.ir 1host2u.ir,Abarkooh,Armenia,Bahram 2,Bahram 3,Britain,Caesar,Carus,...View Details»

The Iran accord is going to change everything | GlobalPost...
globalpost.com 06/11/2015 Politics
By Stephen Kinzer on Oct 27, 2015 @ 5:45 AM *** An Iranian woman walks past a mural in Tehran on June 29, 2015. Stephen Kinzer spent more than 20 yea...View Details»

ISIS: The Spoils of the "Great Loot" in the Middle East - FPIF...
fpif.org 02/07/2014 Politics
Adding yet more warfare to the current crisis in the Middle East will perpetuate exactly what the imperial powers set out to do: tear an entire region...View Details»

Oman Fights Saudi Bid for Persian Gulf Hegemony With Iran Pipeline Pla...
bloomberg.com 21/04/2014 Economy
By Dana El Baltaji Apr 22, 2014 Oman’s plan to build a $1 billion natural-gas pipeline from Iran is the latest sign that Saudi Arabia is failing to bi...View Details»

Centre for teaching Persian language starts in Muscat ...
timesofoman.com 27/04/2014 Culture
by Elham Pourmohammadi | April 27, 2014 Muscat: In a significant step to strengthen cultural ties between Iran and Oman, a centre for teaching ...View Details»


EOF