- Oman's Nawras could raise between $550m to $600m in its long-awaited initial public offering, Reuters has reported, citing a source close to the matter. The company is to offer 260 million shares as it divests 40% of its capital but no fresh equity is being issued to investors, the source said. Nawras has a capital base of 650 million shares. The IPO is expected to launch on September 15 and will be open for a month.
2010-09-01 06:38:53
- Saif bin Abdullah al Sumri, chairman of Oman Electricity Transmission Co OETC has said the company has started initial work to set up a transmission line linked to the development of the first phase of a large independent power project IPP in Sur, Times of Oman has reported. The power generation capacity of the proposed IPP in Sur is to be enhanced to 2,000MW; 500 MW in the first phase and 1,500MW in the second phase, he said.
2010-08-31 06:42:26
- The head of Iran's Offshore Oil Co has said the country plans to increase production at three oilfields shared with Oman, the UAE and Saudi Arabia by next March, Mehr news agency has reported. "Some 30,000 barrels per day would be added to the country's production capacity," Mahmoud Zirakchianzadeh said. Oil output of Salman and Forouzan oilfields, shared with the UAE and Oman, respectively, will increase by 10,000 barrels per day, he added.
2010-08-30 06:38:32
- The 2011 Toyota Corolla has been launched by Saud Bahwan Group in the Omani market, Oman Daily Observer has reported. The new Corolla has several redesigned features including chrome/coloured grille, front bumper, headlamps and fog lamps, rear lamps, rear bumper, license plate garnish, reflex reflectors and 5-spoke alloy wheels. It is also available with all new VVT 1.8L and 1.6L engines and the new dual VVT-i technology, mated to a new 6-speed manual transmission.
2010-08-26 21:13:26
- Saud Bahwan Group, distributor of Toyota cars in Oman, has unveiled the 2011 Avalon, Oman Daily Observer has reported. The new Avalon is powered by a 24-valve, dual-overhead cam 3.5-litre V6 engine that produces 268 horsepower at 6,200rpm that is mated to a multi-mode six-speed automatic transmission. The Avalon also features dual-zone climate control system, nine air bags, vehicle stability control VSC, anti-lock braking system ABS with electronic brake force distribution EBD.
2010-08-26 21:08:26
- Oman's Nawras, a Qtel subsidiary, is to launch an initial public offering on September 20, Reuters has reported, citing a source close to the deal. The IPO sale will be open to both local and international investors, the source said, but did not give details of the sale. Morgan Stanley and Bank Muscat are the managers for the offering.
2010-08-25 06:38:37
- OLYMPIC VALLEY, Calif. - The phone is a chop of static. There is a sound of buzzing, then a shush of blips, and a muted pause before the din and crackle fades and Trevor Cooper's voice pierces through the line."Hello, hello ..." he says, breaking the static.Cooper, a Navy airman, is speaking somewhere in the Gulf of Oman, about 8,000 miles from his former home near Lake Tahoe. Cooper along with the rest of the ship's 5,000-plus crew on the USS Harry S. Truman, a nuclear powered Nimitz class aircraft carrier, is part of the Afghanistan based Operation Enduring Freedom.Cooper has been assigned as a weapons technician responsible for building support equipment for bombs, missiles and ammunition, an assignment he loves."I've enjoyed the Navy; it's an experience you'll never forget," he said. "You get to know people a lot more."Cooper said he remembers when he decided to join the Navy, how surprised his parents - Craig Cooper and steCopyright 2010 Sierra Sun. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.Sierra SunOlympic Valley Naval officer reports from the Gulf of OmanAugust, 24 2010 8:10 am MST
0000-08-24 00:00:00
- Oman mobile operator, Samatel has announced the launch of its services for residential and business customers in the Sultanate, Oman Daily Observer has reported. The new telco, which is using an operating and technology platform provided by Effortel, the mobile virtual network enabler MVNE, is using the network of Nawras.
2010-08-23 06:47:11
- Oman's oil ministry has invited upstream oil and gas companies to bid for onshore blocks 66, 67 and 39 in the country, Oman Daily Observer has reported. Block 66 is in the western part of the Sultanate and covers an area of around 4,899 sq km, while block 67 is located further to the south covering an area of some 1775 sq km. Block 39 covers an onshore area of 11,606 sq km and stretches along the southern coastline of Oman. Expressions of interest have been invited.
2010-08-23 06:47:02
- RAK Petroleum has subcontracted a 50% interest in Block 47 onshore the Sultanate of Oman to Repsol Exploracion, while retaining operatorship of the Block. The partnership plans to drill the Zad prospect with the well expected to spud in October 2010. It is thought the well will take three months to drill and is targeting the Amin sandstone reservoir, similar to the Kauther field discovered by Petroleum Development of Oman to the southeast of the Block.
2010-08-17 06:37:36
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