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Muscat Daily
14-07-2025
- Business
- Muscat Daily
Oman, Türkiye deal opens avenues in oil, gas and renewables
Muscat – Oman and Türkiye signed a memorandum of understanding on Monday to deepen technical and investment cooperation across the energy spectrum, from oil and gas to green hydrogen and carbon‑capture technology. The agreement was inked in Muscat by H E Salim bin Nasser al Aufi, Oman's Minister of Energy and Minerals, and his Turkish counterpart Alparslan Bayraktar. It commits both sides to exchange expertise, align regulatory policies, explore joint projects and study financing options aimed at boosting efficiency and accelerating the transition to cleaner fuels. Areas of collaboration include crude exploration, liquefied natural gas trade, renewable power, energy‑storage solutions and alternative fuels. A dedicated workstream will examine production, storage and transport of green hydrogen – an emerging focus for Oman's 2050 net‑zero drive. 'The MoU embodies the depth of our strategic relations and sets a platform for innovative partnerships in renewables, efficiency and low‑carbon technologies,' H E Aufi said. He added that the pact supports Oman's ambition to become a regional hub for sustainable energy while attracting foreign direct investment. Bayraktar described Oman as a 'key producer and exporter' and said the deal would unlock 'tremendous opportunities' in electricity generation, transmission and market liberalisation. He pointed to Türkiye's 2022 long‑term purchase agreement with Omani LNG and signalled Ankara's interest in expanding volumes and taking part in upstream projects. Joint investment push Bayraktar also met Abdulsalam al Murshidi, President of Oman Investment Authority, to review progress on the US$500mn Omani‑Turkish Joint Investment Fund established with Türkiye's state‑backed Oyak Fund. The fund primarily targets investments in Oman and Türkiye, in addition to promising strategic opportunities worldwide, particularly in mining and metals, automotives, logistics, chemicals, agriculture and food and energy sectors. Discussions covered exploring profitable growth opportunities in promising sectors that serve the economic interests of both countries, contribute to strengthening bilateral relations, and localising technologies and knowledge.
Observer
14-07-2025
- Business
- Observer
Oman and Türkiye sign strategic energy past
MUSCAT: The Sultanate of Oman and the Republic of Türkiye have taken a significant step towards strengthening bilateral ties with the signing of a wide-ranging Memorandum of Understanding (MoU) in the energy sector. The agreement, formalised in Muscat, aims to bolster technical collaboration, enhance investment flows and support both nations' transition to sustainable energy systems. The MoU was signed by Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, on behalf of the Omani government and Alparslan Bayraktar, Minister of Energy and Natural Resources, on behalf of the Republic of Türkiye. The agreement covers several strategic areas of cooperation, including oil and gas exploration, trade in liquefied natural gas (LNG), renewable energy development, energy efficiency and alternative fuels. Key provisions also focus on advancing joint projects in green hydrogen production and carbon capture technologies — critical elements in the global push towards decarbonisation. Under the MoU, both parties have committed to sharing technical expertise and policy experience, developing regulatory frameworks to enhance energy efficiency and exploring innovative technologies and financing mechanisms for clean energy infrastructure. The agreement also encourages the organisation of technical seminars and joint events, fostering dialogue and knowledge exchange. Minister Al Aufi described the agreement as a testament to the deep-rooted strategic partnership between Oman and Türkiye. He emphasised that this cooperation would contribute to Oman's national goals of energy diversification and carbon neutrality while solidifying the Sultanate of Oman's role as a regional energy hub. 'This memorandum represents a key milestone in Oman's road map to energy transformation. It will pave the way for impactful partnerships, especially in renewable energy, carbon capture and green hydrogen — areas that are central to our long-term energy strategy', said Al Aufi. He also reaffirmed Oman's commitment to fostering international cooperation that supports sustainable development, facilitates investment and promotes the transfer of knowledge and innovative solutions. Echoing these sentiments, Minister Bayraktar noted that the MoU will enhance bilateral cooperation across multiple facets of the energy sector. He highlighted Türkiye's interest in Oman's extensive oil and gas resources and pointed to opportunities for joint exploration projects. He also stressed the potential for collaboration in electricity generation from renewable sources, power transmission and market liberalisation. Bayraktar further recalled the long-term agreement signed in 2022 to supply Omani LNG to Türkiye, expressing his desire to expand volumes and deepen cooperation in this domain. 'We see Oman as a reliable partner in energy supply and we aim to elevate our relationship to a more strategic level', he stated. Both ministers agreed that the MoU opens promising new horizons for economic integration, energy security and sustainability. It also reflects the broader diplomatic will of the two nations to work closely on pressing global issues such as climate change and energy transition. This agreement is expected to not only enhance trade volumes in the energy sector but also act as a catalyst for innovation and investment across both economies. — ONA
Observer
10-07-2025
- Business
- Observer
Oman's crude oil reserves dip 2.8% to 4.8 billion barrels
MUSCAT: Oman's crude oil and condensate reserves totaled around 4.825 billion barrels at the end of 2024, reflecting a decrease of 2.8 per cent compared to the previous year. Natural gas reserves stood at 23.3 trillion cubic feet (TCF), up from around 23 TCF a year earlier. Announcing these figures in its 2024 Annual Report, the Ministry of Energy and Minerals noted that Petroleum Development Oman (PDO) — the largest oil and gas producer in the Sultanate — accounted for about 62 per cent of total crude oil and condensate reserves in 2024. Highlighting the central role of hydrocarbons in Oman's national economy, Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, stated: 'Amid global challenges facing energy markets — ranging from price volatility to evolving demand dynamics — Oman, guided by strategic foresight and sound policies, succeeded in maintaining stable production levels in the oil and gas sector. The average daily production of crude oil and condensates reached 992.6 thousand barrels, with total exports of approximately 308.4 million barrels.' He added: 'The average price for Omani crude stood at USD 80.79 per barrel. In the natural gas sector, average daily production reached 149.2 million cubic meters, comprising 117.5 million cubic meters of non-associated gas and 31.7 million cubic meters of associated gas. Exports of liquefied natural gas (LNG) totaled 12 million tonnes, delivered across 181 shipments — a clear indication of the sector's operational efficiency and resilience.' Eng Salim al Aufi, Minister of Energy and Minerals As of end-2024, Oman was home to 475 producing fields, comprising 400 oil fields and 75 gas fields. A total of 73 exploration and appraisal wells were drilled last year — 54 for oil and 19 for gas, the report noted. According to Al Aufi, the year 2024 was marked by continued advancements across the oil and gas sectors. 'Our vision remains firmly set on a diversified economic future, enhanced in-country value, and empowered Omani talent across all levels. Despite global challenges, Oman succeeded in maintaining stable production levels in the oil and gas sector, thanks to strategic foresight and sound policies.' Significant progress was also witnessed in the refining and petrochemical sector, said the Minister. A total of 122 million barrels of petroleum products — including gas oil, jet fuel, and naphtha — were exported, while imports dropped to around 2 million barrels, demonstrating growing self-sufficiency and improved value chain efficiency. On the green hydrogen front, 2024 marked a year of 'pioneering milestones' aimed at reinforcing Oman's position as a regional hub for renewable energy and green hydrogen, Al Aufi noted. This was underscored by the signing of eight major hydrogen production agreements — five in Al Wusta Governorate and three in Dhofar. Electricity generated from renewable sources — chiefly solar and wind — accounted for roughly 9 per cent of total power generation in the country last year. This modest but growing share underscores the Ministry's commitment to diversifying the national energy mix and advancing low-carbon solutions, Al Aufi said. The contribution of renewables is set to increase steadily with the commissioning of the Manah 1 and Manah 2 solar farms, which will have a combined capacity of 1,000 MW. Also slated for launch by 2026 are the North Oman Solar project and the Riyah 1 and 2 wind farms, which together are projected to reduce CO₂ emissions by over 1.4 million tonnes annually, the Minister noted.
Observer
22-06-2025
- Business
- Observer
Mining concession awarded for RO 200m sea salt production project
MUSCAT: The Ministry of Energy and Minerals signed on Sunday, June 22, 2025, a mining concession agreement with Integrated Global Engineering Company to develop natural salt production in Concession Area I-51, located in Al Wusta Governorate. The concession covers a total area of 15 square kilometres. The agreement was signed on behalf of the Government of the Sultanate of Oman by Eng Salim bin Nasser Al Aufi, Minister of Energy and Minerals, while Shaikh Ali bin Salim al Junaibi, Chairman of Integrated Global Engineering Company, signed on behalf of the company. The agreement aims to expand the production capacity of the existing salt plant and establish additional facilities to increase the annual output of natural salt to 1.2 million tonnes. The salt will be extracted through the construction of seawater storage ponds, followed by natural evaporation using wind and solar heat. The salt will then be dried, refined, and packaged. The estimated investment value of the project is RO 200 million. Al Aufi emphasised that the project represents a strategic step forward in advancing economic diversification in the Sultanate. He noted that the project is expected to create significant employment opportunities for Omani citizens. The primary objective is to boost the production of natural salt and develop its industrial derivatives for use in various projects aligned with sustainable development goals. The minister also highlighted that this is the third sea salt production project signed in Oman, as part of the Ministry's broader strategy to promote local industries, maximise the utilisation of natural resources, and reduce dependence on imported products. Shaikh Ali bin Salim al Junaibi, Chairman of Integrated Global Engineering Company, stated that obtaining Concession Area I-51 in Al Wusta will help realise the company's vision of increasing production capacity to one million tonnes annually. He added that the project is expected to meet domestic market demand as well as the needs of downstream industries currently under development, in line with the economic goals of Oman Vision 2040. The company also plans to produce multiple derivatives of salt required by both local and global markets, particularly for food processing, animal feed, and pharmaceutical industries. Shaikh Al Junaibi further affirmed that the agreement reinforces the government's strategy to localise industries, make full use of natural resources, and reduce reliance on imports—contributing to the enhancement of the national economy and generating a range of job opportunities for Omani talent, including part-time work for small and medium-sized enterprises (SMEs).
Calgary Herald
10-06-2025
- Politics
- Calgary Herald
Premier Danielle Smith, cabinet ministers to 'address concerns' about coal industry, policies at Fort Macleod meeting
Alberta Premier Danielle Smith, three United Conservative Party cabinet ministers and the local MLA are hosting a coal town hall Wednesday evening in Fort Macleod to engage with Albertans and 'address concerns' about the Alberta coal industry and government policies. Article content Smith is being joined at the meeting, to be held at the Fort Macleod and District Community Hall, by Energy and Minerals Minister Brian Jean, Agriculture and Irrigation Minister RJ Sigurdson, Environment and Protected Areas Minister Rebecca Schulz and Livingstone-Macleod MLA Chelsae Petrovic. The town hall is scheduled to last two hours, starting at 5:30 p.m. and ending at 7:30 p.m. Article content Article content Article content On social media, Petrovic and the UCP have been criticized by a southern Alberta group for holding the town hall months after a request was made to host such a meeting with elected government officials. Article content Article content 'At this point, months later, you and your cohorts are kind of a day late and a dollar short . . . but thanks anyway,' said Claresholm resident Jacqueline Chalmers, founding member of the Chinook Water*shed Crew. Article content 'We are absolutely fatigued by the rhetoric of the august team (Premier Smith, Ministers Jean, Sigurdson and Schulz), you've put together for this Coal Town Hall on Wednesday, June 11, 2025.' Article content Chalmers questioned why the province did not ask government scientists to attend the meeting so they could provide data on the 'myriads of questions regarding the frightening long-term effects of coal detritus in our water, in our air and on our lands.' Article content Article content 'We don't want to hear anymore half-truths, fabrications and downright misinformation from you or them; the messaging is tired and redundant,' said Chalmers, commenting after the town hall poster was posted on Petrovic's Facebook page. Article content 'In fairness if they're coming with hat in hand to announce 'no to coal' we will welcome all and shake their hands in thanks.' Article content Article content Another southern Alberta group, Water For Food, said it hoped the format of the town hall allows for unlimited questions 'with fulsome honest answers' from Smith and the UCP cabinet ministers. The group's spokesperson, former Lethbridge mayor Chris Spearman, said the group has written several times without answer to Smith, Jean and Schulz, seeking answers about a contentious proposed coal mine along the eastern slopes of the Rocky Mountains as well as coal mining in Alberta.
