The Oman oil and gas market is expected to grow at a CAGR of more than 5% during the forecast period. Factors such as supportive government policies, efforts to grow the downstream sector coupled with upcoming projects, are expected to drive the market studied. However, the high capital investment required, coupled with a lack of financing due to a global economic slowdown in the event of the COVID-19 outbreak, is expected to hinder the growth of the market in the coming years.
The Oman oil and gas market is moderately consolidated. Some of the key players are BP Plc, Royal Dutch Shell, Eni SpA, Oman Oil Marketing Company SAOC, China National Petroleum Corporation, among others.
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