The move to combine the State General Reserve Fund, the largest in the Gulf country, with the Oman Investment Fund would create a new entity worth some USD 25 billion, Bloomberg reported.
The news came days after reports broke that Oman Oil Company is considering an initial public offering.
According to Oman’s minister of oil and gas, Mohammed Al Rumhy, stakes in other state entities will also go up for sale. Last week, he named Salalah Methanol Company and an unspecified drilling company.
While the OOC IPO may be modelled on the Saudi Aramco IPO scheduled for next year, the merger of Oman’s two largest sovereign funds follows Abu Dhabi’s example, with a new investment company with some USD 125 billion in assets on the agenda.
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
ExxonMobil is "optimistic and pushing forward" with the Rovuma LNG project in Mozambique and eyes an FID by the year's… Read More
This website uses cookies.