Oman has been looking to build a presence in the higher-value petrochemicals industry in earnest for over a decade, given that on the one hand more than 80 percent of its budget revenues come from the oil and gas sector but on the other, it has a relative paucity of hydrocarbons reserves compared to its neighbors.
“The problem for Oman has perennially been financing these ambitions, as building up a petrochemicals presence requires a lot of upfront spending ahead of being able to generate returns further down the line,” Richard Bronze,…Oman’s New Petrochemical Project Could Be A Game-Changer
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