Oman Daily Observer: Oman unfazed by shale oil boom

Energy producer Oman says the ‘shale oil boom’ sweeping across North America, and indeed other countries of the world, will not sway its current strategy for developing its hydrocarbon reserves in support of the nation’s developmental goals.

Oil and Gas Minister Dr Mohammed bin Hamed al Rumhy said the Sultanate, while staying the course in the development of its oil and gas potential, would at the same time continue to carefully monitor global trends impacting energy demand and prices.

“We have to wait and see,” Dr Al Rumhy said in response to warnings by energy analysts urging producers in the Middle East to pay heed to the so-called ‘shale explosion’ that has virtually upturned the energy market in North America. MORE