Oman: National Gas acquires 80% stake in Samahram Gas
Muscat – National Gas Company, Oman's leading liquified petroleum gas (LPG) marketing firm, has announced the successful acquisition of an 80% stake in S amahram Gas Company, which is a key player in the refilling and distribution of LPG in the Dhofar Governorate.
In a disclosure to the M u scat Stock Exchange, National Gas confirmed that the transaction was finalised on J une 4, 2025, following all regulatory approvals and compliance with applicable laws.
'This strategic acquisition aligns with our long-term growth objectives and is expected to significantly strengthen our footprint in Oman's LPG market,' National Gas said in its disclosure.
The company added that the investment is anticipated to deliver solid returns and contribute positively to both revenue and net income at the group level.
'We remain committed to delivering value to our shareholders through strategic investments and market expansion initiatives,' the company noted.
Samahram Gas has established itself as a significant operator in southern Oman, and the deal is seen as part of National Gas's broader strategy to consolidate its presence in the domestic LPG sector.
Samahram Gas' core business are LPG filling cylinders, LPG central gas system installation, operations and LPG bulk supply. The company offers a one-stop-shop for LPG needs for all its clients.
© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
19 minutes ago
- Zawya
After Israel strikes Iran, airlines divert flights, airspace closed
Airlines cleared out of the airspace over Israel, Iran, Iraq and Jordan on Friday after Israel launched attacks on targets in Iran, Flightradar24 data showed, with carriers scrambling to divert and cancel flights to keep passengers and crew safe. Proliferating conflict zones around the world are becoming an increasing burden on airline operations and profitability, and more of a safety concern. Six commercial aircraft have been shot down unintentionally and three nearly missed since 2001, according to aviation risk consultancy Osprey Flight Solutions. Israel on Friday said it targeted Iran's nuclear facilities, ballistic missile factories and military commanders at the start of what it warned would be a prolonged operation to prevent Tehran from building an atomic weapon. Tel Aviv's Ben Gurion Airport was closed until further notice, and Israel's air defence units stood at high alert for possible retaliatory strikes from Iran. Israeli flag carrier El Al Airlines said it had suspended flights to and from Israel and was moving some of its planes out of the country. Israeli carrier Israir said it was evacuating its planes from Tel Aviv's airport, which it said was expected to remain closed through the weekend. Many global airlines had already halted flights to and from Tel Aviv after a missile fired by Yemen's Houthi rebels towards Israel on May 4 landed near the airport. Iranian airspace has been closed until further notice, according to state media and notices to pilots. As reports of strikes on Iran emerged, a number of commercial flights by airlines including Dubai's Emirates, Lufthansa and Air India were flying over Iran. Air India, which overflies Iran for its Europe and North American flights, said several flights were being diverted or returned to their origin, including ones from New York, Vancouver, Chicago and London. Lufthansa said its flights to Tehran have been suspended until further notice, and it would avoid Iranian, Iraqi and Israeli airspace for the time being. Emirates, which cancelled flights to and from Iraq, Jordan, Lebanon, and Iran after Israel's attack, did not immediately respond to a request for comment. Iraq early on Friday closed its airspace and suspended all traffic at its airports, Iraqi state media reported. Eastern Iraq near the border with Iran contains one of the world's busiest air corridors, with dozens of flights crossing between Europe and the Gulf, many on routes from Asia to Europe, at any one moment. Jordan, which sits between Israel and Iraq, closed its airspace several hours after the Israeli campaign began. FLIGHT DIVERSIONS "Traffic is now diverting either south via Egypt and Saudi Arabia, or north via Turkey, Azerbaijan and Turkmenistan," according to Safe Airspace, a website run by OPSGROUP, a membership-based organisation that shares flight risk information. Flights from six airlines including Etihad Airways and Turkish Airlines were diverted to Baku, Azerbaijan according to its Heydar Aliyev International Airport. An Emirates flight from Manchester to Dubai was diverted to Istanbul and a flydubai flight from Belgrade diverted to Yerevan, Armenia. Budget carrier flydubai said it had suspended flights to Amman, Beirut, Damascus, Iran and Israel and a number of other flights had been cancelled, rerouted or returned to their departure airports. Qatar Airways cancelled its two scheduled flights to Damascus on Friday, Flightradar24 data shows. The Israeli-Palestinian conflict in the Middle East since October 2023 led to commercial aviation sharing the skies with short-notice barrages of drones and missiles across major flight paths – some of which were reportedly close enough to be seen by pilots and passengers. Airspace in the Middle East last year was crossed daily by 1,400 flights to and from Europe, Eurocontrol data show. Last year, planes were shot down by weaponry in Kazakhstan and in Sudan. These incidents followed the high-profile downing of Malaysia Airlines flight MH17 over eastern Ukraine in 2014 and of Ukraine International Airlines flight PS752 en route from Tehran in 2020. (Reporting by Lisa Barrington; Additional reporting by Steven Scheer and Christoph Steitz; Editing by Jamie Freed)
Arabian Business
28 minutes ago
- Arabian Business
Egypt signs mid-term deals with Aramco and other companies for LNG
Egypt has reached mid-term agreements with several energy companies, including Saudi Aramco, to purchase liquefied natural gas (LNG), as the government seeks to meet the rising power demand and alleviate the frustrations and economic losses caused by persistent blackouts throughout the country. Agreements have been reached with global energy companies and trading houses, including Saudi Aramco, Shell, Vitol, Trafigura, BGN, SOCAR, and PetroChina. Bloomberg also added London-based Hartree Partners to that list. Both Reuters and Bloomberg reported the story, but since the Egyptian government had not confirmed the numbers, there were discrepancies. Reuters said between 50 and 60 cargoes will be used to cover this year's demand – on top of 75 cargoes purchased earlier this year – while the rest will be delivered through the end of 2026. This would result in a total of 235 cargoes for this year and next, costing Egypt a total of US$8 billion. Egypt secures major LNG supply deal Bloomberg said that Egypt agreed to purchase LNG over a two-and-a-half-year period, and that the deals will bring in as many as 290 cargoes over the period, starting next month. The world's most populous Arab country, which has been struggling with a currency crisis, has endured power issues over the past two years as natural gas supply fell short of demand. After years of being an exporter, it became a net importer of gas last year. The country's Ministry of Petroleum, the Egyptian Natural Gas Holding Company, and the companies involved did not immediately respond to the two agencies' request for comments. Reuters said the cargoes were priced at a premium of $0.70-$0.75 above the gas price at the Dutch TTF hub, with a nine-month deferred payment. Bloomberg reported only 180 days (six months) for deferred payment for the cargoes priced at a premium to the European gas benchmark of about 80-95 cents per million British thermal units.
Khaleej Times
34 minutes ago
- Khaleej Times
Dh128b Al Maktoum International Airport project fuels real estate boom in Dubai South
Property prices in Dubai South are forecast to increase by a further 15-20 per cent in the near term, as the Dh128 billion ($35 billion) expansion of Al Maktoum International Airport in Dubai South is fuelling a major real estate boom in the area, data shows. According to data from Betterhomes, property transactions in the area have already exceeded Dh15 billion in the first five months of 2025. Investor interest in Dubai South is accelerating, driven by competitive pricing, strong rental yields, and ongoing infrastructure development. Rental rates have risen 20 per cent year-to-date, with a sharp increase in both off-plan and ready property sales. Betterhomes has also recorded over 20 per cent monthly growth in buyer and tenant inquiries, while institutional capital is entering the market, most notably a $1 billion investment partnership between a major Abu Dhabi-based asset manager and Brookfield. The $35 billion terminal expansion in Dubai South is set to create employment and housing opportunities for over one million people, with far-reaching effects across multiple sectors. As job creation increases, population growth is expected to follow, driving greater demand for housing and supporting broader economic development. Surrounding areas are already experiencing a rise in transactions, property prices, rental rates and yields. The aviation sector alone is projected to contribute over 30 per cent to Dubai s GDP by 2030. In 2023, Dubai Airports and the Emirates Group supported approximately 329,000 direct and indirect jobs. The government has already begun awarding major contracts, including a recent Dh1 billion contract for the airport s second runway, demonstrating a strong commitment and steady progress on the project. With demand surging and a long-term development pipeline in motion, Dubai South is emerging as one of the UAE's most promising real estate growth corridors. 'The development of Al Maktoum Airport is not just a milestone in aviation, but a catalyst for the next chapter of Dubai's real estate growth,' said Louis Harding, CEO of Betterhomes. 'We're already seeing the ripple effects in Dubai South. This is the early stage of a long-term growth cycle, and Betterhomes is well-positioned to guide both investors and end-users through it.' Infrastructure enhancements, including the Dubai Metro Blue Line and Etihad Rail, will further strengthen demand, and a recent Dh1 billion contract award for the airport's second runway signals continued momentum. Average prices in surrounding areas remain up to 60 per cent lower than in prime districts like Downtown Dubai, offering attractive value. A similar growth pattern was seen following the launch of Terminal 3 at Dubai International Airport in 2005, when surrounding areas such as Dubai Marina and Al Barsha experienced substantial appreciation. Between the launch and early 2008, average sale prices had nearly doubled. The outlook for Dubai South remains strong. Currently, Dubai Industrial City has an average sale price of Dh750 per square foot, while Dubai Investment Park is priced at Dh850 per square foot. These figures are approximately 60 per cent lower than those in prime areas such as Downtown Dubai and Business Bay, where prices typically range between Dh2,000 and Dh2,500 per square foot. Many of the surrounding areas showing similar trends, analysts say. This substantial pricing gap positions Dubai South as an attractive opportunity for both investors and end users, analysts saud. The area's appeal is further supported by upcoming infrastructure developments, including the Dubai Metro Blue Line, which will connect to Al Maktoum Airport, and the Etihad Rail network, which lists the airport as a designated stop. 'These projects are expected to significantly improve regional connectivity, thereby driving further demand and supporting capital appreciation,' an analyst said.
