Latest news with #SalimAlAufi
Zawya
28-05-2025
- Business
- Zawya
Oman launches national company to regulate mineral exports and boost revenues
MUSCAT: In a significant move to optimise the economic potential of its mineral wealth, the Ministry of Energy and Minerals has announced the establishment of Oman Minerals Trading Company as the central authority to oversee the marketing and export of mineral resources from the Sultanate of Oman. The initiative is formalised through Ministerial Resolution No 18/2025, issued by Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals. The resolution marks a key step in reforming the mineral management system and aligns with Oman Vision 2040's goal of sustainable, diversified economic growth. It aims to address existing structural challenges in the mineral sector — such as fragmented marketing, price instability and the dominance of intermediaries — by centralising export control under a national entity. KEY PROVISIONS FOR TRANSPARENCY AND MARKET STABILITY Under the new regulation, gypsum and chrome ore exports will be strictly monitored. Export of raw chrome ore will require a minimum concentration of 36%, while processed ore can be exported at any concentration upon Ministry approval. Local market needs will be prioritised before exports are approved, a policy that supports domestic manufacturing and ensures stability in local supply chains. The regulation also seeks to standardise contracts, enhance negotiation leverage with international buyers and improve pricing transparency for Omani ores — factors that have historically impacted competitiveness despite strong production levels. In 2024 alone, Oman produced about 14 million tons of gypsum across 15 licensed sites and 300,000 tonnes of chrome ore from 29 licensees. However, revenue gains have been diluted by inconsistent marketing and a lack of pricing discipline. STRATEGIC ROLE OF OMAN MINERALS TRADING COMPANY As a subsidiary of Minerals Development Oman, the new trading firm will manage exports, unify contract terms, enforce quality specifications and negotiate international sales. This professionalised approach is expected to lift the average price of Omani minerals and boost national income. Dr Salah bin Hafiz al Dhahab, Director General of Investments at the Ministry, described the move as a 'pivotal milestone,' adding that it enables the government to streamline the export process, reduce price manipulation and better monitor sectoral returns. The decision is also designed to: a. Improve the efficiency of logistics and export operations. b. Increase transparency and curb rent-seeking behaviour. c. Support SMEs involved in supply chains. d. Create more jobs and promote local content through in-country value (ICV) initiatives. The resolution falls under the Ministry's broader 'Majd' initiative, which aims to evaluate and enhance local content across the energy and minerals sectors. Companies will be required to submit ICV plans and support domestic manufacturing activities that add value to raw mineral exports. ONE-YEAR TRANSITION PERIOD To ensure a smooth shift, a one-year transitional period has been granted. During this time, companies can conclude existing contracts and adapt to the new system. The Ministry also plans to conduct orientation and training workshops to support stakeholders and build internal capacity. Dr Al Dhahab emphasised that the transformation reflects the Ministry's broader institutional reform following the merger of energy and minerals portfolios. 'With clearer policies, enhanced geological databases and improved investor privileges, we are creating a transparent and regulated business environment that meets the goals of Oman Vision 2040,' he noted. By streamlining mineral exports and empowering a centralised entity, Oman aims to attract more reliable investments, strengthen national industries and secure better returns from its abundant mineral resources. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
Oman: Pact signed to jointly develop hydrogen transport network
MUSCAT: OQ Gas Networks SAOG (OQGN), the exclusive operator of Oman's natural gas transmission system, has signed a Term Sheet Cooperation Agreement with Belgium-based Fluxys to jointly develop a hydrogen transportation network in the Sultanate of Oman. Under the agreement, Fluxys will join as a minority shareholder, co-owning and operating the planned infrastructure alongside OQGN. The agreement builds on an earlier Memorandum of Understanding (MoU) signed in September 2023 and strengthens their partnership following Fluxys' acquisition of a 4.9% stake in OQGN during its Initial Public Offering (IPO). Both companies share a vision for leading the energy transition and see this collaboration as a key step toward realizing Oman's Vision 2040 and its national hydrogen production targets. With complementary infrastructure and expertise, OQGN and Fluxys aim to fast-track the rollout of hydrogen transport systems to support Oman's clean energy ambitions. The partnership also reflects a broader goal to exchange knowledge and best practices to accelerate low-carbon developments. The agreement was signed by Eng Mansoor bin Ali al Abdali, CEO of OQGN, and Pascal De Buck, Managing Director and CEO of Fluxys, during a ceremony at the Mandarin Oriental Hotel in Muscat, held under the auspices of Salim bin Nasser Al Aufi, Minister of Energy and Minerals. 'We are excited to work with Fluxys in developing hydrogen transportation infrastructure to support Oman's green hydrogen and decarbonisation goals,' said Eng Al Abdali. 'This collaboration reflects our commitment to delivering cost-effective, sustainable energy solutions for the future.' De Buck added, 'Partnering with OQGN marks a major step in our strategy to build international low-carbon value chains. We look forward to contributing to Oman's energy transition while bringing renewable hydrogen to Belgium and Europe.' 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Times of Oman
18-05-2025
- Business
- Times of Oman
Oman secures OMR11.5 billion investment through Block 53 concession extension
Muscat: The Ministry of Energy and Minerals has signed an agreement to extend the Block 53 Exploration and Production Sharing Agreement (EPSA) for Occidental Mukhaizna and its partners, securing operations until 2050. Under the amended agreement, the concession has been extended to 2050, facilitating an estimated investment of OMR11.5 billion (approximately $30 billion) over the extended term. These investments will cover capital and operational expenditures designed to enhance production efficiency and deploy advanced extraction technologies, optimising resource recovery within the block. The anticipated investments are expected to strengthen supply chain sustainability and operational support contracts, fostering economic growth and generating employment opportunities across Oman's oil, gas, and related industries. The Mukhaizna field in Al Wusta Governorate has been a key contributor to Oman's oil production, consistently ranking as Oman's highest-producing crude oil field. Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, emphasised that the extension of this agreement is a strategic milestone in ensuring the field's continued role in supporting the national economy. He highlighted that the planned investments will drive production growth and enhance value creation within Oman's energy sector. The Ministry remains committed to collaborating with its partners to maximise the potential of Block 53, a cornerstone of its strategy for sustainable and responsible hydrocarbon production, the minister added.
Zawya
13-05-2025
- Business
- Zawya
Oman: 2bln deals to boost renewable energy projects
MUSCAT: Oman Centre for Net-Zero was inaugurated under the auspices of HH Sayyid Taimour bin Asaad al Said, Chairman of the Board of Directors of the Central Bank of Oman. The centre, which is under the Ministry of Energy and Minerals, will develop and update the national Net-Zero plan, oversee implementation projects, provide advisory support to stakeholders, and refine Oman's 2050 Net-Zero strategy. The event also witnessed the signing of several agreements and MoUs. OQ signed 13 strategic agreements worth over RO 769 million to boost renewable energy projects, supporting Oman's 2050 carbon neutrality goal. Organised by Oman Exhibition and Conference Company under the supervision of the Ministry of Energy and Minerals, the Oman Petroleum and Energy Show (OPES) and Oman Sustainability Week 2025, serve as an integrated platform highlighting the importance of energy security and sustainability. It underscores Oman's commitment to a balanced and advanced future, featuring field visits to sustainability projects in Muscat and other governorates to enhance the event's local and regional impact. Eng Salim bin Nasser al Aufi, Minister of Energy and Minerals, stated that OPES reflects Oman's vision for a sustainable energy future by supporting efforts to reduce carbon emissions and achieve Net-Zero goals. He noted that Oman Sustainability Week aligns closely with Oman Vision 2040 and the UN Sustainable Development Goals, playing a pivotal role in advancing the green circular economy and achieving carbon neutrality by 2050. He added that these events serve as dynamic platforms for knowledge exchange, innovation stimulation, and strategic partnerships that enhance national capabilities and economic resilience. OPES 2025 and Oman Sustainability Week will feature strategic exhibitions, high-level conferences, panel discussions, technical workshops and field visits. By gathering a global community of leaders, innovators, and policymakers, the event accelerates Oman's progress towards economic growth, diversification, climate action and technological advancement — aligned with Oman Vision 2040, the 2050 Net-Zero target, the UN SDGs, and the Paris Agreement. Together, OPES 2025 and Oman Sustainability Week showcase Oman's achievements, reinforcing its position as a key energy player and regional leader in sustainable progress. Over 50 countries are participating in OPES, represented by more than 350 exhibitors and 2,400 delegates from diverse global sectors, highlighting Oman's growing role as a hub for international energy and sustainability dialogue. On this occasion, OQ Exploration and Production inked four contracts exceeding RO 21 million with local firms and SMEs in its concession areas. Additionally, OQ launched the 'Tamayuz' programme, partnering with the Oman Energy Association to train 430 Omani graduates in technical and non-technical fields, enhancing human capital development. Abraj Energy Services signed a drilling contract with Ara Petroleum for three wells in Concession Area 44, with expected revenues of RO 1.6 million. Drilling is set to begin in Q2 2025.
Zawya
12-05-2025
- Business
- Zawya
OSW Awards 2025: Honouring trailblazers driving Oman's sustainable future
Muscat – Under the patronage of His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy and Minerals, the recognised organisations of Oman Sustainability Week (OSW) Awards 2025 have been announced. The event carried an inspiring message – sustainability is not just a goal, it is a national imperative. The OSW Awards, part of Oman Sustainability Week—overseen by the Ministry of Energy and Minerals—marked the official launch of the 2025 edition. The evening was dedicated to honouring pioneers of sustainability. Co-organised by be'ah (Oman Environmental Services Holding Company) and CONNECT (Oman Exhibitions Organizing Company LLC), the ceremony took place at the Oman Convention and Exhibition Centre. The gathering brought together senior government officials, industry leaders, and sustainability experts to celebrate and elevate the organisations driving Oman's environmental and economic transformation. The OSW Awards serve as a powerful catalyst, propelling organisations toward more transparent, accountable, and future-focused operations. Rooted in international sustainability standards, including the Global Reporting Initiative (GRI), and aligned with Oman Vision 2040, the UN Sustainable Development Goals (UN SDGs), and the Sultanate's ambitious Net Zero 2050 pledge, the awards framework ensures a rigorous, credible evaluation of ESG leadership across sectors. Commenting on the event, His Excellency Mohsin bin Hamad Al Hadhrami, Undersecretary of the Ministry of Energy and Minerals, stated: "We are launching the coming together of Oman Sustainability Week and the Oman Petroleum & Energy Show 2025 with the Oman Sustainability Week Awards ceremony, which embodies our vision to continue strengthening support for sustainability, alongside our commitment to developing the energy sector, diversifying its sources, and enhancing its security and stability." He added, "This event reflects our commitment to promoting a culture of sustainability within our institutions and society. We take pride in the ongoing partnership between the public and private sectors to advance this direction. Honouring pioneering initiatives in the fields of environment, society, governance, and sustainable mobility is a pivotal step toward building a more resilient and prosperous future." He further emphasized, "The continuity of this movement enhances Oman's role in supporting the sustainability journey and encourages organizations to adopt innovative practices with a positive impact, in line with the goals of Oman Vision 2040 and the national ambition to achieve net-zero by 2050." Speaking on the occasion, Dr. Mohab Ali Al Hinai, Vice President of Sustainability and Circular Economy at be'ah, stated, 'As co-organisers of the fourth edition of the Oman Sustainability Week Awards, we take pride in providing a unique platform that encourages organisations to integrate sustainability and responsibility into their corporate strategies, contributing to the development of a sustainable business community in Oman. Since the launch of the initiative in 2022, we have witnessed remarkable growth in the number of participating organisations, increasing from 12 to 29 in 2025. Many of these organisations have shown significant improvement, with some raising their scores by over 30%, and one SME achieving a 70% increase. This continuous growth reflects the commitment of Omani institutions to adopt best sustainability practices, and we are proud to support this movement, in alignment with Oman Vision 2040.' In 2025, the awards continued to focus on two pivotal categories: Environment, Social, and Governance (ESG) and Eco-Mobility—each representing a strategic pillar in Oman's sustainable development roadmap. The ESG category, developed in collaboration with the Center for Sustainability and Excellence (CSE) in Chicago, received 29 standout submissions across four subcategories: Academia, Government, Small Business, and Medium to Large Enterprises. The submissions showcased transformative ESG integration—driven by strategic foresight, stakeholder inclusivity, and measurable social and environmental impact. In the ESG Category, Platinum recognition was awarded to Asyad Group, Petroleum Development Oman, SLB, Sohar Aluminium, and Veolia. Gold honours went to Daleel Petroleum, Destination Sustainability, Oman Electricity Transmission Company, Oman Petro Environmental Services Company, and OQ Group. Silver recipients included Bank Muscat, Bank Nizwa, BP Oman, OQ8, Green Universe Enterprise, Gulf Energy, Oman LNG, Omantel, Ominvest, OQGN, Special Oilfield Services, and Sultan Qaboos University. In the Bronze segment, the Ministry of Transport, Communications and Information Technology, Modern College of Business and Science, University of Nizwa, and the University of Technology and Applied Sciences were recognized. The Eco-Mobility category, managed by the Ministry of Transport, Communications and Information Technology, spotlighted innovations in clean and connected transport. With 15 finalists, the category emphasised scalable solutions for sustainable mobility. Judging was conducted by an expert panel representing key regulatory and strategic bodies—including the Ministry of Energy and Minerals, the Environment Authority, and the Authority for Public Services Regulation—reflecting the growing importance of this sector and the involvement of multiple stakeholders in its development. In the Eco Mobility category, Platinum honours went to Electric Vehicle Oman – EVO and Shell Development Oman. Gold recognition was awarded to ABB, Oman Shell Marketing, and MWASALAT. Silver recipients included EnvirOM Solutions, OQ, Audi Oman, and Petroleum Development Oman, while 44.01 was recognized in the Bronze segment. Throughout the evening, speakers delivered powerful addresses on the urgency and opportunity of sustainable transformation. From policy updates to personal reflections, these moments underscored the national momentum toward a greener, more inclusive economy. The event featured several notable highlights, beginning with an insightful opening address by His Excellency Eng. Salim bin Nasser Al Aufi, who emphasized the growing importance of the awards. Experienced explorer Mark Evans captivated the audience with his introduction of the Jewel of Arabia expedition. Her Excellency Dr. Liane Saunders, the British Ambassador to the Sultanate of Oman, brought attention to the British Embassy Hackathon, while Shamsa Al Maskiry from HydroAI showcased the winning idea from the Connecting Futures – Challenges of Sustainability Hackathon. Eng. Abdullah Ali Al Busaidi, Director General of the Oman Logistics Centre at the Ministry of Transport, Communications and Information Technology, introduced the Eco-mobility category, and Dr. Mohab Ali Al Hinai, Vice President of Sustainability and Circular Economy at be'ah, presented the Environment, Social, and Governance (ESG) category. As Oman continues its journey toward sustainable prosperity, the OSW Awards remain a beacon, encouraging bold ideas, rewarding impactful action, and building a culture of shared responsibility. The 2025 edition not only celebrated excellence but inspired a wider call to action for institutions and individuals alike: to lead with purpose, innovate with integrity, and shape a future where sustainability is an integral part of our daily lives. To learn more about the OSW Awards, visit
