Oman on 29 December announced plans to establish a new state company to manage the sultanate’s natural gas. Under the plans, Oman’s finance ministry will set up an integrated gas company to act on behalf of Muscat in managing the country’s natural gas assets, rights and obligations related to the purchase, sale, import, export of gas and its by-products.

The new company will implement state plans and policies related to gas pricing and supply to various sectors of the economy including gas sales to industry. (CONTINUED - 711 WORDS)