OMAN GROK Daily News – Excerpts from International Media Reports
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L&T Seeks to Strengthen Presence in Oman  [May 31]
” L&T Oman (L&T), a joint venture of Indian engineering giant Larsen & Toubro Limited and The Zubair Corporation of Oman, aims to build on its robust performance of 2009 to emerge as a key player in the Sultanate’s rapidly expanding construction and infrastructure development sector.  A team of top executives from the parent company was in Muscat late last week on a visit designed to review L&T Oman’s operational successes of last year, and to chart a strategy for the joint venture’s energetic future growth.  The team, comprising K V Rangaswami, L&T Board Member and President of the Construction Division, and V B Gadgil, Senior Vice-President and Chairman of L&T Oman, met with L&T Oman’s senior management led by M Shyamsunder, Chief Executive, to explore opportunities for consolidating and strengthening the engineering conglomerate’s presence in the Sultanate..”  [Complete Report]

A’Duqum Port in Oman to Boost Country’s Economy [May 31]
“A’Duqum Port in Al Wusta Region currently under construction is one of the strategic projects being implemented by the Sultanate’s Government to boost the national economy and revive the economic and industrial activities in the Sultanate in particular and the whole region in general.  The Port of A’Duqum is  characterized by it’s strategic location, as it overlooks the Arabian Sea and not far from the international shipping lines that link the East with the West and  the regional shipping lines that link the AGCC countries  and the Indian Ocean Rim countries with the international shipping lines.  dditionally, A’Duqum Port will serve the shipping lines between the Ports of the Sultanate, support cargo movement, the industrial and tourism activities as it lies almost mid-way between Port Sultan Qaboos in Muscat and Port of Salalah in the Dhofar Governorate..”  [Complete Report]

OMANGROK Daily News – Excerpts from International Media Reports
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Oman Grants Extension to Amnesty Seekers  [May 30]
“Foreign workforce stranded in Oman without legal papers will get a further two-month reprieve as the Manpower Ministry extended their deadline to leave the country without paying fines.  In January, the government gave overstaying expatriates three months to complete all the paperwork and leave the country without paying fines or to regularise their status with the Manpower Ministry.  The deadline was first extended up to May 31.  A large number of overstaying expatriates, mainly blue-collar workers, will have to either regularise their status or leave Oman. “We have had requests from diplomatic missions to give further extension for the partial amnesty and a formal announcement to this effect will be made tomorrow (Monday),” a senior official at the Manpower Ministry told Gulf News on condition of anonymity.  On Saturday, Manpower Minister Shaikh Abdullah Bin Nasser Al Bakri said that the ministry was studying the proposal..”  [Complete Report]

GDF Suez to Build Two Power Plants in Oman  [May 30]
“GDF Suez has won a contract to build and operate two 750MW power plants in Oman at a cost of US$1.82bn.  The plants, with a capacity of 750 megawatts each, are expected to be completed in 2013, and Oman will buy electricity from the company for 15 years and then transfer the ownership to the government, an Omani tender board official told Reuters on Saturday..”  [Complete Report]

OMAN GROK Daily News – Excerpts from International Media Reports
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Brazil’s Vale to Sell Stake in Oman Pellet Plant  [May 29]
“Brazilian mining giant Vale on Saturday said it has agreed to sell a 30 percent stake in an iron pellet plant in Oman with 9 million tonne annual output to the Oman Oil Company (OOC) for $125 million.  Vale (VALE.N)(VALE5.SA), the world’s largest iron ore miner, said the Vale Oman Pelletizing Company is slated to begin production in the second half of 2010.  The plant is part of an industrial logistics center located in the Sohar Industrial Port Complex in Oman, Vale said.  Oman Oil is owned by the government of Oman.  Pellet plants partly refine ore for sale to steelmakers..” [Complete Report]

OMAN GROK Daily News – Excerpts from International Media Reports
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BP to Start Production of Oman Tight Gas in August [May 28]
” BP PLC will begin production from two tight gas fields in Oman later this year, according to a senior Omani energy official.  “BP will start producing gas from Khazzan and Makarem fields in August,” said Nasser al-Jashmi, the undersecretary of Oman’s oil and gas ministry.  BP signed a production-sharing agreement with Oman in 2007 for the two gas fields, which lie on Block 61.  Jashmi said he expected production to reach less than 1 million cu m from the early production this year, but he said that the volume is expected to increase in 2011.  In November 2009, BP completed drilling five of eight appraisal wells as part of its development program for the reserves on Block 61.
“BP will drill eight appraisal wells in total by 2011,” according to BP Oman general manager Jonathan Evans, who added, “So far we’ve done five wells, which have provided a lot of useful information on the nature and the scale of the reservoirs.”  In a company report, Evans said, “Our latest test site, Khazzan 5, initially produced about 40 MMcfd of gas and has the highest flow rate of any well we’ve drilled so far.”..” [Complete Report]

OMAN GROK Daily News – Excerpts from International Media Reports
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Oman Shipping Report Q3 2010 – New Market Report Published  [May 27]
“The government of Oman and Port of Antwerp International (PAI), a subsidiary of Belgian Antwerp Port Authority (APA), in late March signed an agreement to set up a joint company to manage the planned Omani port of Duqm. The JV will see both partners hold a 50% stake in new company Port of Al Duqm, which will manage the port. We note a trend in the developing Omani port sector of calling upon the expertise of well-established European ports to help in the development of the Sultanate’s ports..”  [Complete Report]

Dubai August Oil Discount Widens to 25 Cents Off Oman [May 27]
“Dubai oil, a Persian Gulf benchmark for Asia, will sell at a wider discount to Omani crude futures in August as the commodity slipped almost 15 percent on global markets this month.  The official selling price for Dubai crude loading in August will be set at a discount of 25 cents to the Oman futures contract for that month, according to an e-mailed statement from the emirate’s Department of Petroleum Affairs today.  The Oman futures contract is the only product traded on the Dubai Mercantile Exchange, which released the differential provided by the Department of Petroleum Affairs. The discount to Omani crude widened from 15 cents for July. Dubai crude sold at 40 cents less than Oman for May and June..”  [Complete Report]

OMAN GROK Daily News – Excerpts from International Media Reports
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Study Launched on Geological Impact of Natural Events  [May 26]
“A geological research project, studying short and long-term changes and potential geo-hazards such as storms and tsunamis along Oman’s coastline was recently launched by the German University of Technology in Oman (GUtech). The research project, led by Associate Prof Dr Gösta Hoffmann of the Department of Applied Geosciences, is carried out in close cooperation with Prof Dr Klaus Reicherter, Department of Geosciences at RWTH Aachen University in Germany, accoridng to a press release from the GUTech today (Wednesday).  “Our research project will study extreme natural events in the long-term coastal evolution,” said Dr Gösta. The impact of natural hazards on sustainable development will be analysed to better predict natural hazards such as storms, tsunamis and earthquakes, and recommend measures to be better prepared.  “This groundbreaking research is set to improve our knowledge about the past and future of Oman’s environment. Our first results suggest a huge potential of this study,” he added..” [Complete Report]

BP to Start Early Oman Tight Gas Output in Aug  [May 26]
“Oil major BP will start early production from tight gas fields in Oman in August, a senior Omani energy official said on Wednesday.  BP signed a concession in 2007 to develop the tight gas, which is in complex formations that are difficult to exploit. It aims to pump gas from appraisal wells to the Omani grid, which is short of gas to meet the demands of power and industry.  Appraisal well gas is typically flared, but BP has said from early stages of the project it would try to pump the fuel to market to help alleviate Oman’s shortage. BP has previously said that output in 2011 could reach 200 million to 300 million cubic feet per day (cfd). The two fields BP is developing are the Khazzan and Makarem fields.  ‘BP will start producing gas from Khazzan and Makarem fields in August,’ Nasser al-Jashmi, the undersecretary of oil and gas ministry told reporters on the sidelines of a Thomson Reuters event in Muscat..”  [Complete Report]

Omani Reaches Top of Everest [May 26]
“As a child, Khalid al Siyabi used to climb sand dunes in the scorching heat of his native Oman, but he never thought that one day he would reach the peak of the mighty Everest and risk frostbite in the severest cold.  Mr al Siyabi broke down in tears when he hoisted the Omani flag on the Everest summit at about 10.15am (UAE time) on Sunday. It marked the culimination of two-months preparation that put him on top of the world, making him the first Omani national to stand there.  He stood admiring the view around him and thought of his days frolicking with his friends three decades ago in a dusty town dreaming of travelling around the world – not climbing to the top of it..”  [Complete Report]

OMAN GROK Daily News – Excerpts from International Media Reports
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Oman’s Blue City Teeters as Bondholders Debate Future  [May 25]
“Oman’s Blue City, a $20 billion real estate project central to the country’s economic transformation, is on the brink of liquidation and its fate may hinge on talks between bondholders trying to salvage their investment.  Owners of $661.5 million worth of Blue City bonds are discussing measures to push the project ahead, including trying to reduce the number of bondholders involved, a person familiar with the talks said. A vote on liquidating the project, proposed by holding company Al Sawadi Investment & Tourism LLC, has been put on hold, the person said.  “If it’s not handled appropriately and transparently, it could tarnish Oman’s image as an investment destination at a time when Oman is trying to diversify and develop its tourism sector,” said John Sfakianakis, Riyadh-based chief economist at Banque Saudi Fransi..”  [Complete Report]

UAE and Oman ‘May Join GCC Monetary Union’ [May 25]
“GCC Secretary-General Abdulrahman Al Attiyah is optimistic that the UAE and Oman will join the GCC monetary union in the future. The UAE and Oman withdrawing from the monetary union does not mean that they will be discounted, Mr Al Attiyah told our sister paper Akhbar Al Khaleej in an exclusive interview, on the eve of the 29th anniversary of the establishment of the council.  The GCC has taken important steps towards launching a common currency, he added. He said that the GCC railway network is expected to be operational by 2017, with the network authority likely to be declared next year.  GCC states stand firmly with Yemen’s unity, security and stability and will continue their economic and political backing of Yemen, he affirmed.  The GCC states have entered a new stage of integrity and unity, said Mr Al Attiyah..”  [Complete Report]

OMAN GROK Daily News – Excerpts from International Media Reports
[Links to full articles were active on the date posted here]

Al Siyabi Becomes First Omani to Scale Mount Everest  [May 24]
“Omani adventurer Khalid Bin Sulaiman Al Siyabi has become the first Omani to scale Mount Everest, the highest mountain peak in the world at 8,848 metres above sea level.  After hoisting the Omani flag on Everest Summit, Al Siyabi, 37, said that his two-month-long mission was achieved after a lot of hardship and determination, according to a report by Oman News Agency.  “It was not easy as it posed some risks, including changing weather conditions and severe cold with temperatures sometimes dropping to below 50 degrees Celsius,” he pointed out.  He added that the climb to the Everest was delayed due to strong winds and heavy snowfall. “Lack of Oxygen on top was one of the toughest challenges that I face during this expedition,” he said.  He revealed that some of the members of the team had to drop out due to severe hardship.  However, he added, that he had resolved to reach the peak making the venture his way of commemorating celebrations of Oman’s 40th National Day anniversary..” [Complete Report]

Franklin U. Signs Affiliation With Oman School  [May 24]
“Franklin University’s latest overseas affiliation is taking the Columbus school into another Middle Eastern country.
Franklin said it has signed a deal with the Modern College of Business and Science in Oman that will make MBA classes available to students at the school this fall. Classes will be held at the school’s campus in Muscat, Oman’s capital, and be taught in English by Franklin faculty who travel to the country and Modern College faculty.  For Franklin, the deal takes the school deeper into what it calls a rapidly growing market for MBA programs. The affiliation will bring Modern College, an accredited school founded in 1996, its first graduate program..” [Complete Report]

OMAN GROK Daily News – Excerpts from International Media Reports
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Indian amnesty seekers in Oman asked to report for finger printing [May 23]
“An Indian social worker in Oman has appealed to amnesty seekers to complete the finger printing formalities by May 31, the deadline given by the Manpower Ministry in Oman for overstaying expatriates to leave the country without paying any penalties. “A total of over 21,000 have registered at the embassy so far,” P M Jabir, Community Welfare Secretary at the Indian Social Club, said in a press release. Jabir is at the forefront in coordinating with the embassy and amnesty seeking blue collar workers. “It is mandatory to complete the fingerprinting before they can exit the country and that would also make the Indian embassy’s task to process each case faster. “We request all concerned people to come forward at the earliest,” he appealed. “Even if we assume some duplication in the registration, the figure would be approximately twenty thousand,” Jabir said..”  [Complete report]
Oman reports large fiscal surplus in Q1 [May 23]
“Strong crude prices along with higher oil production allowed Oman to record a large budget surplus in the first quarter of 2010 despite an increase in investments and other expenditures, official data showed yesterday.
Spending during January-March stood at RO1.574 billion (Dh15.04bn) and revenue at RO1.996bn, creating a surplus of RO421.2 million, the Omani Ministry of Economy said in its April bulletin. The surplus is compared to a deficit of about RO16.6m in the first quarter of 2009, according to the report. A breakdown showed the surplus was achieved as a result of a sharp rise in the Gulf country’s oil revenues, which more than doubled to RO1.425bn in the first quarter of this year from nearly RO709.2 million in the first quarter of 2009. Gas revenue edged up by about 2.2 per cent to RO219m from RO215m, while customs revenue surged by about 26 per cent. By contrast, the report showed a 51.7 per cent plunge in corporate income tax and a decline of about 30.5 per cent in capital revenues..” [Complete report]