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Sultan Haitham left Muscat for the UK on 8 February, with no indication of how long he might be away for.

Oman
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Sovereign wealth fund the Oman Investment Authority has launched a third fund in its portfolio. The OR2bn Future Fund Oman will sit alongside the National Development Fund and Future Generations Fund

Oman
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Emir Sheikh Mishaal travelled to Riyadh on 30 January for talks with King Salman and Crown Prince Mohammed Bin Salman, further cementing the bilateral relationship. Mishaal then went to Oman in early February to attend the inauguration of Duqm refinery with Sultan Haitham.

Kuwait | Saudi Arabia | Oman
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In a rare inward investment into Yemen, Oman’s Salalah Mills is paying $6.5m for a 50% stake in a grain mills and silos business in Mukalla, Hadhramaut government, which it will run with an unnamed Yemeni partner.

Yemen | Oman
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Sultan Haitham Bin Tariq Al-Said sailed to Khasab port in the isolated Musandam peninsula in mid-January for a meet-the-people tour and to inspect economic developments, directing local officials to push ahead with further housing and commercial projects.

Oman
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Efforts to bring the Gaza conflict to an end continue, with little apparent prospect of short-term success. Arab states are pushing for Israel to end its bombardment but there is just as much focus on trying to ensure the war doesn’t escalate into a regional conflagration. A key challenge is the Houthis’ campaign against commercial shipping in the Red Sea, which Washington and allies are struggling to counter despite a major attack on targets in Yemen on 12 January.

Iran | Saudi Arabia | Bahrain | Yemen | Oman | United Arab Emirates (UAE) | Israel | Palestine
Issue 1183 - 08 January 2024

Iran names new ambassador to Oman

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Iran has a new ambassador to Oman, one of the Islamic Republic’s most strategically – important neighbours.

Iran | Oman
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Oman’s Crown Prince Theyazin Bin Haitham had words of praise for President Vladimir Putin and one of Russia’s most senior bankers, Andrei Kostin, while in Moscow to attend an investment forum in early December. The visit to Russia, followed by a trip to Abu Dhabi a few days later to meet UAE President Sheikh Mohammed Bin Zayed Al-Nahyan, suggests the Omani crown prince may be seeking to build up his international profile.

Oman
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Sultan Haitham Bin Tariq Al-Said has returned from back-to-back state visits to Asian powerhouses Singapore and India, in which boosting business was very high on the agenda.

Oman
Issue 1182 - 12 December 2023

Oman manages squeeze on oil output

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For all its public emphasis on post-carbon development, Oman remains dependent on oil and gas revenues – and National Center for Statistics and Information (NCSI) data suggest it has marshalled that income well, despite Opec+ production cuts. The pain of those cuts has been cushioned by record condensate production, which is classed as ‘liquids’ from gas output.

Oman
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With a change of leadership, more macroeconomy savvy approach and an embrace of new technologies, Oman has found a private sector-led recipe for diversification that should prepare it for life beyond hydrocarbons dependence.

Oman
Issue 1181 - 24 November 2023

Oman signs LNG supply deal with BP

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Muscat has signed a contract to delivery 1m t/yr of liquified natural gas (LNG) to United Kingdom-based energy major BP. The agreement was signed by Oman LNG on 21 November and will run for nine years, starting in 2026.

Oman
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Sultan Haitham Bin Tariq Al-Said presided over the opening of the eighth term of the Council of Oman (parliament) on 14 November. On 18 November, he reviewed a miliary parade at Adam Air Base in Dakhiliya Governorate, held to mark Oman's 53rd National Day.

Oman
Issue 1181 - 21 November 2023

Oman hopeful a Yemen peace deal is imminent

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Omani officials appear confident that, despite international diplomatic attention having largely switched to the Gaza conflict, a peace settlement can be achieved soon between the warring factions in Yemen and Saudi Arabia, with all parties now appearing to recognise that ending the civil war is in their overwhelming political interest.

Saudi Arabia | Yemen | Oman
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Omani officials told GSN that the failure to achieve a settlement to the Israel/Palestinian conflict was nurturing radicalisation and undermining the prospects for resolving other political problems across the Middle East.

Oman | Israel | Palestine