Top economic news: oil deals, road projects, global conference
The Sultanate of Oman signed three exploration concession agreements for oil and gas in areas 36, 43A, and 66 with OQ Company. These agreements include exploration programs with budgets exceeding $56 million and opportunities to add new resources and reserves for up to 25 years, covering an area of more than 30,000 square kilometers. Additionally, Muscat Stock Exchange experienced a positive performance in the industrial sector, with shares of companies such as Oman Cement and Mahan Ceramics rising, despite the main index declining for the second consecutive week. As part of infrastructure projects, over 188 million Omani riyals were spent on road development during the first nine months of the year, focusing on vital routes in Musandam and Dammam. Meanwhile, the government continues to monitor price networks and commodity markets to ensure economic stability. Finally, Oman has won the right to host the 23rd World Wind Energy Conference in 2027, a step that reflects its growing development in the renewable energy sector and its efforts to diversify the national energy mix.
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