- Update
-
- Format
- 3 files (PDF report, 2 Excel files)
- Pages
-
29 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
- ABBREVIATIONS
- GLOSSARY
Buy Oman energy report
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Overview
This analysis includes a comprehensive Oman energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
Highlights
- The country pledged to reduce GHG emissions by 7% and to reach a 30% share of renewables in the power mix in 2030.
- Private companies account for around 90% of the power production.
- Petroleum Development Oman accounts for around 60% of oil production.
- Natural gas represents 92% of the power mix.
- The price of oil products increased by 75% between 2015 and 2019, following their liberalisation, and have been stable since 2022.
- Electricity prices increased substantially in 2021, especially for households (+70%), and have remained stable since then.
- The country has a very high energy consumption per capita due to energy-intensive industrial production.
- Buildings absorb 80% of the electricity consumption.
- Two large gas power IPP projects will be launched in 2025.
- Green hydrogen and ammonia projects totalling 1.2 GW are planned at the port of Duqm.
Institutions & Energy Policy
The Ministry of Energy and Minerals (MEM) manages the hydrocarbons sector, as well as renewables and hydrogen.
Oman's economy is highly dependent on hydrocarbons, which represent 75% of its total fiscal revenues and 60% of total exports of goods in 2023 (IMF). According to its "Vision 2040", the sultanate aims at reducing oil's share in GDP to 16% in 2030 and 8% in 2040.
Energy Companies
Gas:
PDO ensures around 45% of the gas production, with 21 bcm in 2023 (58.3 million m3/d).
PTT Exploration and Production (PTTEP, Thailand) has been producing gas from the field of Shams and Munhamir since 2007.
Energy Supply
Gas:
The production of natural gas has increased regularly by almost 4%/year since 2010, reaching 46.7 bcm in 2023 (i.e. almost 5 times the level of 2 000).
Energy Prices
Oil:
The prices of gasoline and diesel are stable since 2022 (US$ 0.60/l and US$ 0.67/l, respectively); they increased by 75% between 2015 and 2019 (15%/year), as a result of the 2016 deregulation of oil prices.
Graph: GASOLINE & DIESEL PRICES (US$/l)
Energy Consumption
Total consumption of energy per capita amounts to 6.9 toe (2023), i.e. three times higher than the global average. Per capita electricity consumption reached 8.5 MWh in 2023.
Graph: CONSUMPTION TRENDS BY ENERGY SOURCE (Mtoe)
Issues & Prospects
Electricity:
In its last development plan (2022-2030), OETC forecast a peak demand growth of around 3% per year until 2030 and 2%/year between 2030 and 2040, from 7.4 GW in 2022 to 9.4 GW in 2030 and 11.6 GW in 2040. Several gas-fired and renewable projects are being developed to meet the demand, including 3 GW of renewables to be installed between 2018 and 2025 (1.7 GW in April 2025).
- GRAPH 1: CO2-energy emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2023, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2023, %)
- GRAPH 5: Gasoline & diesel prices (US$/l)
- GRAPH 6: Electricity prices for industry and households (€c/kWh)
- GRAPH 7: Consumption trends by energy source (Mtoe)
- GRAPH 8: Total consumption market share by energy (2023, %)
- GRAPH 9: Final consumption market share by sector (2023, %)
- Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO2 emissions.
- Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
- Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
- Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
- Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.
The Oman energy market data since 1990 and up to
is included in the Excel file accompanying the Oman country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Oman Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Oman energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).