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Zawya
22-07-2025
- Business
- Zawya
Oman: MSX sees 64% jump in turnover as trading activity accelerates in H1
Muscat – The total trading value, or market turnover, at the Muscat Stock Exchange (MSX) rose sharply to RO917.2mn in the first half of 2025, marking a 64% increase compared to the RO559.1mn recorded during the same period in 2024. The number of transactions executed at the Omani bourse increased by 23.5% during the January–June period this year, rising from 119,000 to over 147,000. This growth was supported by a rise in the number of listed companies, their capital, and market capitalisation, offering investors a more diversified range of options. The MSX benefited during the first half of the year from new listings over the past two years, which have boosted institutional investment and enhanced investor confidence. The exchange also gained from improved financial results and higher net profits posted by listed public joint-stock companies. On a monthly basis, February recorded the highest trading value in H1 2025, at RO234.5mn. June followed with RO229.4mn, while May came third at RO149.4mn. January posted the lowest trading value, at RO75.3mn, according to a report by the Oman News Agency. Ahlibank topped the list of the most traded companies by trading value, with transactions worth RO164.2mn, representing 17.9% of the total. OQ Exploration and Production ranked second with RO108.1mn in trades, followed by OQ Base Industries at RO104.3mn. Bank Muscat took fourth place with trades totalling RO93mn, while Sohar International ranked fifth at RO83.7mn, representing 9.1% of the total trading value. According to the report, the MSX's main index was impacted during the first half of the year by regional and global political developments, as well as volatility in most regional and international stock markets. The main index closed at 4,500 points at the end of June trading, reflecting a decline of 75 points compared to its level at the end of 2024. The index recorded its only monthly gain in May, rising by 244 points, while its largest monthly decline was in February, down 107 points. It also fell by 68 points in March and 60 points in June. The market capitalisation of securities listed on the MSX rose to RO28.27bn by the end of June trading, an increase of RO675.3mn compared to its level at the end of 2024. This growth was driven by rising stock prices, new listings in the bonds and sukuk market, and capital increases by several public joint-stock companies through the distribution of bonus shares. In the first half of 2025, Asyad Shipping Company was listed on the exchange following its transformation into a public joint-stock company through an initial public offering of 20% of its capital, equivalent to 1.041bn shares. The period also saw the transformation of Computer Stationery Manufacturing Company from a public joint-stock company into a closed joint-stock company. Additionally, Oman Investment and Finance Company merged with Dhofar International Development and Investment Company. As a result, Oman Investment and Finance Company was delisted from the Muscat Stock Exchange on July 2. © Apex Press and Publishing Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
Oman extends Area 53 oil concession to 2050, unlocking $30bln investment
MUSCAT: The Ministry of Energy and Minerals has signed an agreement to extend the Concession Area 53 license until 2050 with Occidental Mukhaizna and its consortium partners: OQ Exploration and Production, Indian Oil Corporation, Liwa, and PTT Exploration and Production. This strategic move aims to ensure the continued development of the Mahzaina oil field, which currently boasts the highest daily crude production in the Sultanate of Oman. The extension will also advance oil recovery through cutting-edge steam injection technology and development of the Thulaylat reservoir. Under the new agreement, investments are expected to reach around $30 billion over the concession period. These include both capital and operational expenditures to boost production efficiency and implement state-of-the-art extraction techniques for better resource utilization. The planned investments will also bolster the sustainability of the sector's supply chain and service contracts, stimulating broader economic activity and generating new employment opportunities in Oman's oil and gas industry. Commenting on the agreement, Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, stated: "The extension of Concession Agreement No. 53 represents a pivotal step towards ensuring the continued contribution of this vital field to the national economy. The anticipated investment volume will contribute to developing production and enhancing the added value of the energy sector in the Sultanate of Oman. We are committed to continuing to work with our partners to maximize the potential available in Concession Area No. 53, which is a fundamental pillar in our plans to sustain production efficiently and responsibly." The agreement underscores Oman's commitment to maintaining a resilient and forward-looking oil and gas sector—one that continues to serve as a cornerstone of national income through responsible resource management and the adoption of global best practices.
