Oman plans to offer shares in some state-owned downstream energy companies to the public, partly to raise money as low oil prices pressure its finances
ABU DHABI, April 20 (Reuters
) - Oman plans to offer shares in some state-owned downstream energy companies to the public, partly to raise money as low oil prices pressure its finances, Omani Oil and Gas Minister Mohammad bin Hamad al-Rumhy said on Thursday.
The companies include Salalah Methanol
Co and a drilling company, Rumhy told reporters without naming the drilling firm or giving any financial details.
Oman has been considering privatisation of a wide range of state firms for several years but has not yet moved ahead with the programme, and Rumhy did not say when the initial public offers might take place.
, founded in 2006, is owned 90 percent by state-run Oman Oil Co and 10 percent by Takamul Investment Co, and has a methanol production capacity of 3,000 tonnes per day, according to its website.
(Reporting by Stanley Carvalho; Writing by Andrew Torchia) ((email@example.com; +9715 6681 7277; Reuters