[Oman-L] Oman: oil revenues down, gas revenues up in first half of 2007

[Joachim Duester]

Oman Gas Revenues rise 46 per cent
(Oman Daily Observer, 1 September 2007)

Government revenues fell by 2.2 per cent during
the first five months this year to RO 2,801.2 million,
compared with revenues of RO 2,864.70 million during
the corresponding period in 2006.

The monthly statistical bulletin issued by the 
Ministry of National Economy attributed this fall 
to a 16.8 per cent drop in the net oil revenues, 
which stood at RO 1,760.3 million by the end of 
May 2007, against RO 2,116.6 million during the 
same period in 2006, and a 19.7 per cent drop in
capital revenues, which slumped to RO 15.9 million, 
as against RO 19.8 million last year.

Gas revenues rose by 46.2 per cent to RO 391.3 
million by end-May this year against earnings of 
RO 267.6 million during the same period in 2006.
Earnings through customs duties also rose by 10.3 
per cent to RO 45.7 million as of end-May this year
(RO 41.4 million as of end-May last year). 
Corporate income tax revenues rose by 143.8 per cent
to RO 156.3 million as of end-May this year (RO 64.1
million as of end-May 2006). Other revenues rose by
21.6 per cent to RO 431.8 million as of end-May this
year (RO 355.2 million as of end-May 2006).

The government’s general expenditure rose by 27.4 
per cent during the first five months in 2007 to
RO 2,040 million, against RO 1,588.7 million during 
the same period in 2006. This increase stemmed from 
a 15.7 per cent rise in current spending, which stood
at RO 1,438 million, as against RO 1,242.7 million
during the same period in 2006, and a 58.1 per cent
rise in investment spending which amounted to 
RO 5,02.8 million, compared to RO 318 million last
year. Contributions and support for the private 
sector also rose by 197.1 per cent by the end of May
2007 to RO 83.2 million, as against RO 28 million
during the same period in 2006. The state’s general
budget surplus stood at RO 7,77.2 million during the
first five months in 2007, as against RO 1,276 million

during the same period in 2006.