Oman Oil and Gas Downstream Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Omani oil and gas downstream market is expected to register a CAGR of more than 3.5% during the forecast period, 2022–2027. The Omani oil and gas market has faced a negative impact due to COVID-19 since the pandemic has halted the oil refining, marketing, and distribution of petroleum products in main regions like Al Buraimi, Al Batinah, and Muscat in Oman. Factors such as rapid industrialization and increasing usage of refined petroleum products such as gasoline, liquefied petroleum gas, and compressed natural gas in the country are expected to drive the Omani oil and gas downstream market during the forecast period. However, the growing share of fuel-efficient vehicles and increasing penetration of electric vehicles in Oman are expected to hinder the market’s growth during the forecast period.
Key HighlightsThe Omani oil and gas downstream market is moderately consolidated. The major companies include Shell PLC, Petroleum Development Oman LLC, OQ8, TotalEnergies SE, and Oman Oil Marketing Company SAOG.
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