Energy Report Oman
The Economist Intelligence Unit, March 2013, Pages: 12
In 2013-17 energy consumption will grow faster than economic growth at an average of 9.1% a year (real GDP growth is forecast to average 5.1% in the same period). Annual energy consumption will rise from 25m tonnes oil equivalent (toe) in 2013 to 35.6m toe in 2017.
Growth in energy consumption is driven by the increase in demand for electricity both by the residential and the industrial sector. The government subsidises gas that is allocated to industrial projects, to promote growth and encourage foreign companies to undertake projects in the sultanate. The direct government subsidy on electricity supplied through the Main Interconnected System (MIS) reached an estimated OR165m (US$429m) in 2012, 56% higher than in 2011.
In an attempt to curb these rapidly rising subsidy costs, the authorities recently unveiled plans to double natural gas prices for some industrial consumers by 2015.
Industry List: Alternatives, Energy, Coal, Energy, Electricity, Energy, Energy, Energy, Nuclear, Energy, Oil and gas
Industry Codes (NAIC): 22
Industry Codes (SIC): 49
Energy Report Oman
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