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Oman’s oil sector to grow 14 per cent annually

21 Sep 2020 By ONA

The sultanate’s oil and gas industry is expected to grow at a compound annual growth rate of 14 per cent during the period from 2020 to 2027, according to a new report prepared by the CMFE Insights Research Foundation.

The report added that the Asia-Pacific market is expected to see the fastest growth in terms of oil and gas imports from Oman during the forecast period, Oman News Agency reported.

As per the report, the demand for Oman’s oil output will increase during the forecast period as new innovative solutions and startups emerge in this sector.

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