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FinancialNews
05-12-19
Oman Oil Co to become second national oil company to be listed in Gulf region
(MENAFN) According to Oman's Oil Minister Mohammed al-Rumhi, State-owned Oman Oil Co is likely to list 20 percent to 25 percent of the company in an initial public offering (IPO) in 2020.
Oman Oil Co will be the second national oil company to be listed in the Gulf region after Saudi Aramco's planned IPO later this month if the listing progresses.
Rumhi also said that, financial advisers for the agreement had already been assigned but he did not mention any advisors.
He said that, Oman plans to invest over USD20 billion in downstream operations in the coming 5 years.
MENAFN0512201900450000ID1099373568
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