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Country Analysis Brief: Oman

August 26, 2012

Country Analysis Brief: Oman
Source: Energy Information Administration

Like most of its neighbors, Oman is dependent upon its oil sector for the majority of its export revenues and government spending. Oman possesses the largest oil reserves of any non-OPEC country in the Middle East and significant reserves of natural gas, of which it is a leading exporter regionally. While crude oil remains a significant yet declining part of its economy, Oman has made a concerted effort to diversify its economic base in face of its declining output. Under Sultan Qaboos bin Said’s “Vision 2020″ policy, Oman has made considerable investments and progress into developing gas resources, increasing gas production, and developing current and new oil fields.

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Categories: energy, Energy Information Administration, Oman
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