Majan Glass Company S.A.O.G. (MGCI.OM)

Pricier gas hits bottom lines of Omani industries

Lower profit earnings in 2105 are partly the consequence of higher natural gas costs, a number of Omani manufacturing firms that depend on gas as a fuel resource for the operations have claimed. Natural gas tariffs, while still among the lowest in the GCC region, were doubled from $1.5 per mmBTU to $3 mmBTU effective from January 1, 2015. The increase was intended partly to reflect the rising