
PDO is 60 per cent owned by the Omani government, with Royal Dutch Shell, Total and Partex Oil and Gas Group holding the rest/Bloomberg
by BloombergOman’s Petroleum Development Oman (PDO), the Sultanate’s biggest producer, plans to reduce the number of staff working on its oil and gas projects in response to the spread of the coronavirus.
The Sultanate’s biggest oil and gas producer has started discussions about the cuts with contractors. PDO stated that it will review its projects and expects equipment shortages to affect construction and maintenance as the epidemic affects global supply chains.
PDO is 60 per cent owned by the Omani government, with Royal Dutch Shell, Total and Partex Oil and Gas Group holding the rest.
MOST READ
BUSINESS
COVID-19 poses downside risks to Egyptian banksBUSINESS
Fed rate cuts add pressure on Saudi banksBUSINESS
UAE firms launch Covid-19 economic aid packagesBUSINESS
Saudi Arabia plans to boost oil export to 10...BUSINESS
Aldar to invest AED 2 million in Abu Dhabi...BUSINESS
GCC UHNWIs population to grow by 26 per cent...BUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SEDCO Capital exits a US real estate investmentBUSINESS
NMC Health hires Moelis for debt restructuringBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
SHUAA Capital reports a net profit of AED 45...BUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...