Oman’s Revenues and Surplus Rise this Year on the Back of Higher Oil Prices
Oman’s public revenue stood at OMR 1.92bn ($4.98bn) and net oil revenues at OMR 1.1bn ($2.9bn) at the end of February 2022, up by 76% and 81% YoY respectively. Its revenue and budget surplus surged from oil prices shooting up and a higher tax collection. For the first...
Oman Upgraded To BB- From B+ by S&P on Improved Fiscal And Debt Trajectory
Oman was upgraded to BB- from B+ by S&P. This comes on the back of improving fiscal and debt trajectory. S&P expects Oman to benefit from higher oil prices given its reliance hydrocarbon products alongside the government’s ongoing reforms. Reforms like...
Oman to Refinance Loan and Increase Size to $3-4bn
Oman is said to be in talks to refinance a $2.2bn loan it took in February 2021 and aims to increase the size to $3-4bn, as per two sources. Oman initially sought to raise up to $1bn with last year’s loan but more than doubled its size due to strong appetite...
