No Result
View All Result
NEWSLETTER
Energy Oman Magazine
  • Local News
  • Regional News
  • Local News
  • Regional News
No Result
View All Result
Energy Oman Magazine
No Result
View All Result
Home Companies

New state-owned Integrated Gas Company launched

by Ahmed Alsir
December 29, 2022
in Companies, Local News, Regional News
0
0
SHARES
56
VIEWS
Share on FacebookShare on Twitter
MUSCAT: The Ministry of Finance today (29TH Dec 2022) issued a decision establishing Integrated Gas Company (IGC) and endorsing its Articles of Association and financial bylaw in accordance with the provisions of Commercial Companies Law No. 18/2019 and its amendments, the Privatization Law promulgated under Royal Decree No. 51/2019, Royal Decree No. 80/1998 promulgating the Capital Market Law and its amendments, as well as the provisions of Memorandum of Association and the Company’s Articles of Association and the bylaw.

The Ministry of Finance explained that Integrated Gas Company (IGC) is a state-owned enterprise. The IGC will act on behalf of the Government of Oman in the management of all allocations, assets, rights and obligations of natural gas purchase, sales, transport, imports and exports, as well as all relevant products, the ministry added.

The ministry said that the IGC is entrusted with improving the fiscal performance of Oman by removing the expenses of gas purchase and transport from the State Budget, while at the same time transferring net gas revenue to the treasury.

The new company will also enhance the efficiency of the gas sector, ensure the adherence of producers and consumers to the contracts and agreements signed in the gas sector. It will also implement the government’s policies and plans related to gas prices and quotas allocated to each sector and undertake the selling of gas to gas-based industries. (ONA)

December 29, 2022
Previous Post

UK Export Finance pledges support for Oman’s green energy goals

Next Post

ADNOC allocates US$15bn to advance decarbonisation projects

Ahmed Alsir

Ahmed Alsir

Related Posts

PDO boosts In-Country Value with $2.5bn investment
Companies

PDO boosts In-Country Value with $2.5bn investment

May 28, 2024
Oman, Netherlands explore cooperation in hydrogen ports
Companies

Oman, Netherlands explore cooperation in hydrogen ports

May 28, 2024
Oman takes part in Rotterdam Hydrogen Summit
Companies

Oman takes part in Rotterdam Hydrogen Summit

May 28, 2024
Oman launches strategic study on energy mix, storage options
Companies

Oman launches strategic study on energy mix, storage options

May 28, 2024
Next Post

ADNOC allocates US$15bn to advance decarbonisation projects

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About

Oman’s single news and information resource and discussion platform for the dynamic energy sector.

Category

Local News
Green Hydrogen
Regional News
Carbon Capture
International News
Energy Cooperation
Companies
Energy Storage

Quick Links

Home
Publications
Advertise
Archive
Research Papers
Interviews
CCUS Forum
About Us
GHSO
Contact Us
info@energyoman.net
+968 29855714

© 2023 Energy Oman Magazine All Rights Reserved

No Result
View All Result
  • Home
  • About Us
  • EOSI
  • Events
    • GHSO 2023
    • CCUS Forum 2023
  • Archive
  • Media
    • Interviews
    • Press Releases
    • Publications
  • Advertise
  • Contact Us

© 2023 Energy Oman Magazine - Oman's single news and information resource and discussion platform for the dynamic energy sector.