Business /

Oman’s latest oil discoveries will boost production by up to 100,000 barrels, says minister

Crude oil reserves in the Sultanate currently stand at 5.2 billion barrels

Last updated: June 04, 2022 | 13:52

Reuters

1 MIN READ

Oil markets calmed on Wednesday after Saudi gave assurances that it had revived 41% of capacity

Reuters

Also In This Package

UAE, Egypt, Jordan partnership: Ministers hold meeting

UAE, Egypt and Jordan ministers hold first meeting since the signing of industrial partnership

Top bankers feel an economic hurricane approaching

US will find it difficult to avoid a recession, says Citi CEO

Rent or own? Dubai homes turn pricier

In Pictures: More areas in Dubai see property prices and rents push higher

Tesla's Musk is not the only one losing billions

Muscat: Oman has made new oil discoveries that will raise its production by 50,000 to 100,000 barrels in the coming two to three years, the state news agency said on Saturday, citing energy and minerals minister Mohammed bin Hamad Al Rumhy.

Crude oil reserves in the Sultanate currently stand at 5.2 billion barrels, and gas reserves at around 24 trillion cubic feet, he added.

Get the latest news and updates straight to your inbox

Up Next