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
Fed rate cuts add pressure on Saudi banksBUSINESS
ING Groep plans to sell its Turkish unitBUSINESS
Bahrain considers stake sell in oil assetsBUSINESS
SABB seeks to boost corporate lendingBUSINESS
Dubai’s W Motors seeks funds to go electricBUSINESS
HSBC considering exiting from TurkeyBUSINESS
Zimbabwe turns to UAE to sell a stake in...BUSINESS
ADIA plans to sell a $2 billion stake in...BUSINESS
Amanat considers stake in VPS HealthcareBUSINESS
ECI, HSBC partner to support UAE businessesBUSINESS
Saudi Arabia’s NCB, Riyad Bank end merger talksBUSINESS
National Bank of Oman to exit from EgyptBUSINESS
DAMAC Chairman acquires Italy’s Roberto CavalliBUSINESS
DIEDC expands network of partners in IndonesiaBUSINESS
ADIB seeks to increase foreign ownership limitBUSINESS
HSBC, Emirates NBD cut jobs in UAE as banks...BUSINESS
Salt Bae backers seek a partner and a $1...BUSINESS
KIZAD, ECI partner to support UAE businessesBUSINESS
UAE plans to loosen cap on bank lending to...BUSINESS
Oman plans to launch new regional airline
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
