- Update
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- Format
- 3 files (PDF report, 2 Excel files)
- Pages
-
51 (Report only)
- Delivery
- Immediate by e-mail
- GENERAL OVERVIEW
- ENERGY AND CLIMATE POLICY FRAMEWORK
- ENERGY COMPANIES
- ENERGY SUPPLY AND DEMAND
- ENERGY USE AND PRICE BY SECTOR
- ISSUES AND PROSPECTS
- STATISTICS
- ABBREVIATIONS
- GLOSSARY
Buy Oman energy report
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Overview
Oman is advancing its energy transition with ambitious climate targets, including a 7% reduction in greenhouse gas emissions and 30% renewable energy share by 2030. While hydrocarbons remain central to its economy, reforms in electricity regulation, green hydrogen development, and energy efficiency measures signal a strategic shift towards diversification and sustainability.
Get more details on the table of contents and data files, as well as the list of graphs and tables by browsing the tabs below.
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. Buildings absorb 80% of the electricity consumption
- The country has a very high final energy consumption per capita due to energy-intensive industrial production.
- The price of oil products increased by 75% between 2015 and 2019, following their liberalisation, and are stable since 2022.
- Electricity prices increased strongly in 2021, especially for households (+70%) and have remained stable since then.
- Around 50 GW of solar and wind project are under development. Green hydrogen and ammonia projects totalling 1.2 GW are planned at the port of Duqm.
Energy & Climate Policy Framework
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 68% of total exports of goods in 2024 (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).
Oman's ARA Petroleum has been operating the gas field of Shams and Munhamir since 2016 (previously operated by PTT Exploration and Production (PTTEP, Thailand).
Energy Supply & Demand
Oil:
Oil production decreased by 5% in 2024 to 50Mt, following a 10% increase in 2022; it remained roughly stable between 2017. It increased rapidly from 2007 to 2016 (4%/year) as a result of enhanced oil recovery techniques and the development of new fields, in particular Western Bukhad and Makhaizna.
Energy Use and Price by Sector
Energy Prices in Residential:
Oman restructured electricity tariffs in 2017 for the residential sector to better reflect supply costs and encourage energy conservation. Subsidy cuts were implemented for large commercial and government users, while new tariffs introduced peak-hour and seasonal pricing.
Issues & Prospects
Electricity:
According to the 2025-2029 Capability Statement issued by OETC, peak demand increased by 7% in 2024, reaching 8.6 GW. OETC anticipates continued strong growth, with peak load expected to rise to 9.3 GW in 2025 and further expand by 40% to reach 13 GW by 2029. Several gas-fired and renewable projects are being developed to meet the demand, including 3 GW of renewables (1.7 GW in April 2025).
- Graph 1: Primary Consumption Trends by Energy Source
- Graph 2: Total Consumption Market Share by Energy (2024)
- Graph 3: Installed Electric Capacity by Source
- Graph 4: Installed Electric Capacity by Source (2024)
- Graph 5: Gross Power Production by Source & Consumption
- Graph 6: Power Generation by Source (2024)
- Graph 7: Crude Oil Production & Consumption
- Graph 8: Petroleum Products Production & Consumption
- Graph 9: Gas Production & Consumption
- Graph 10: Emissions of GHG and CO2 from Fuel Combustion
- Graph 11: Final Demand Trends by Energy Source
- Graph 12: Final Consumption by Sector
- Graph 13: Final Consumption Market Share by Sector (2024)
- Graph 14: Final Consumption in Industry by Energy Source
- Graph 15: Energy Prices in Industry (Taxes Included)
- Graph 16: Final Consumption in Transport by Energy Source
- Graph 17: Energy Prices in Transport (Taxes Included)
- Graph 18: Final Consumption in Residential, Services, Agriculture by Energy Source
- Graph 19: Energy Prices in Residential (Taxes Included)
- Graph 20: Upcoming New Capacity by Energy Source
- 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.
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).