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Oman

Oman is a country located on the south-eastern coast of the Arabian Peninsula in Western Asia. Its capital is Muscat, and the country has a population of about five-million people. Oman's economy is dominated by oil and gas production, which accounts for a significant share of government revenue and export earnings, though the government has pursued economic diversification through its Vision 2040 strategy. The country is a member of the Gulf Cooperation Council and maintains close trade and diplomatic ties with neighbouring Saudi Arabia, the United Arab Emirates and other regional powers. Oman's currency is the Omani rial, and the country operates as an absolute monarchy under Sultan Haitham bin Tariq. The nation occupies a strategically important position at the mouth of the Strait of Hormuz, through which a substantial portion of the world's oil exports pass. In addition to hydrocarbons, Oman has invested in port infrastructure, logistics and mining, including copper and other minerals. The government has also shown interest in renewable energy and green hydrogen projects as part of its diversification efforts. Oman's stable political environment and strategic location have made it an important partner for international trade and investment in the Middle East.

Oman Updates


3D printed oil barrels and a percentage symbol
Oil prices climb more than $4 after Israeli strikes on Iran, Lebanon
8th June 2026 By: Reuters

Oil prices jumped more than $4 on Monday, with investors spooked by fresh Israeli strikes on Iran as well as renewed attacks on Lebanon a day earlier. Brent crude futures rose $4.42 or 4.47% to... 


Diesel graphic
Diesel over R30 a litre in SA
8th May 2026

South Africans woke up to record-high fuel prices on May 6, 2026. A litre of diesel (50ppm) costs R31.38. It is the first time ever the price has gone over R30. A litre of 95 Octane in Gauteng... 


Petrol
South Africa ramps up fuel imports from US as war jolts trade
23rd April 2026 By: Reuters

South Africa is boosting oil-product imports from the US to help replace lost supplies from the Middle East, in another example of how the conflict is reshaping trade and threatening higher costs... 


Basic Fuel Price formula in focus amid dramatic shift in South Africa’s supply sources
Basic Fuel Price formula in focus amid dramatic shift in South Africa’s supply sources
17th April 2026 By: Terence Creamer

The Department of Mineral and Petroleum Resources (DMPR), which is now preparing for a prolonged period of fuel supply and pricing pressure as a result of the damage to energy infrastructure during... 


Vale openpit mine
Vale books best first-quarter iron-ore sales in eight years
17th April 2026 By: Reuters

Brazilian miner Vale reported on April 16 its highest iron ore sales for a first quarter since 2018, while also announcing the suspension of pellet operations in Oman amid the war in the Middle... 


Vale iron-ore operation
Iran war allows Australia to revive green iron ambitions
14th April 2026 By: Reuters

The conflict in the Middle East has cracked open the door for Australia to speed up the development of a handful of green iron projects as part of efforts to cut emissions from producing steel.... 


Botswana President Duma Boko
Botswana signs energy and mineral exploration deals with Oman
13th April 2026 By: Reuters

Botswana's President has clinched multiple agreements with Oman, including on mineral exploration, oil storage infrastructure and renewable power, during a visit to the Gulf nation designed to... 


India's iron-ore imports set to hit 7-year high in 2025/26
India's iron-ore imports set to hit 7-year high in 2025/26
26th March 2026 By: Reuters

India's imports of iron-ore, a key raw material in steelmaking, are set to rise to a seven-year high in the fiscal year ending on March 31, driven by a shortage of high-grade ore and demand from... 


Grain being stored in a silo
Fuel crunch from war threatens South African wheat, corn crops
24th March 2026 By: Bloomberg

Farmers in South Africa are heading into the winter planting season with surging diesel prices and tightening supplies – triggered by the Middle East conflict – threatening production in... 


Alara lifts Oman copper output above nameplate after ramp-up hurdles
19th March 2026 By: Creamer Media Reporter

ASX-listed Alara Resources has pushed production above nameplate at its Al Wash-hi Majaza copper operation in Oman, with output running more than 6% ahead of design capacity following months of... 


Containers on a ship
Three more vessels hit by projectiles in Strait of Hormuz, showing merchant ships remain in firing line
11th March 2026 By: Reuters

Three more vessels have been hit by unknown projectiles in the Strait of Hormuz, maritime security and risk firms said on Wednesday, bringing the number of ships struck in the region since the Iran... 


Strait of Hormuz disruptions increase risks for energy, fertilisers and vulnerable economies – Unctad
10th March 2026 By: Schalk Burger

UN Trade and Development (Unctad) says military escalation in the region of the Strait of Hormuz, in the Middle East, has disrupted shipping flows through this narrow passage, which raises concerns... 


Partial enforcement of equal economic opportunity laws for women hampering economies – World Bank
24th February 2026 By: Schalk Burger

Only 4% of women across the world live in economies that provide nearly full legal equality, and this is keeping economies from reaching their full potential to grow and create jobs, says a new... 


An oil pump
OPEC+ keeps oil output steady amid turmoil among members
4th January 2026 By: Reuters

OPEC+ kept oil output unchanged on Sunday after a quick meeting that avoided discussion of the political crises affecting several of the producer group's members. Sunday's meeting of eight members... 


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