Having previously brushed off suggestions of lower oil prices impacting its future upstream plans, Oman now acknowledges that investment will likely be cut if prices remain at $50-60/B for a sustained period.

Oman is considering shelving some planned oil and gas sector projects should global oil prices remain at current levels over the mid- to long-term, undersecretary to the Ministry of Oil and Gas (MOG) Salim al-Oufi said this week, in a marked change of tone to previous comments made on the subject of lower oil prices since late last year. (CONTINUED - 1349 WORDS)