Oman is an Arab country on the southeastern coast of the Arabian Peninsula.
By regional standards, Oman has a relatively diversified economy, but remains dependent on oil exports. Tourism is the fastest-growing industry in Oman. Other sources of income, agriculture and industry, are small in comparison and account for less than 1% of the country's exports, but diversification is seen as a priority by the government.
This list includes notable companies with primary headquarters located in the country. The industry and sector follow the Industry Classification Benchmark taxonomy. Organizations which have ceased operations are included and noted as defunct.
| Name | Industry | Sector | Headquarters | Founded | Notes |
|---|---|---|---|---|---|
| BankMuscat | Financials | Banks | Muscat | 1982 | Commercial and private bank |
| Central Bank of Oman | Financials | Banks | Ruwi | 1974 | Central bank |
| Muscat Securities Market | Financials | Investment services | Muscat | 1988 | Stock exchange |
| National Bank of Oman | Financials | Banks | Ruwi [1] | 1973 | Commercial bank |
| Ooredoo Oman | Telecommunications | Fixed line telecommunications | Muscat | 2004 | Part of Ooredoo (Qatar) |
| Oman Air | Consumer services | Airlines | Muscat | 1993 | Airline |
| Oman Arab Bank | Financials | Banks | Muscat | 1984 | Commercial bank |
| Oman LNG | Oil & gas | Exploration & production | Muscat | 1984 | LNG plant |
| Oman Oil Company | Oil & gas | Exploration & production | Muscat | 1996 | State-owned oil and gas concern |
| Oman Oil Marketing Company | Industrials | Business support services | Muscat | 2003 | Marketing and distribution |
| Oman Refinery Company | Oil & gas | Exploration & production | Muscat | 1982 | Oil and gas |
| Omantel | Telecommunications | Fixed line telecommunications | Muscat | 1996 | Telecom |
| Petroleum Development Oman | Oil & gas | Exploration & production | Muscat | 1925 | State oil and gas |
| Raysut Cement | Industrials | Building Materials & Fixtures | Salalah | 1981 | Largest cement company |
| The Shaksy Group | Conglomerates | - | Muscat | 1976 | Oil and gas, real estate, construction |
The economy of Mauritius is a mixed developing economy based on agriculture, exports, financial services, and tourism. Since the 1980s, the government of Mauritius has sought to diversify the country's economy beyond its dependence on just agriculture, particularly sugar production.
Oman, officially the Sultanate of Oman, is a country located in West Asia. It is situated on the southeastern coast of the Arabian Peninsula, and spans the mouth of the Persian Gulf. Oman shares land borders with Saudi Arabia, the United Arab Emirates, and Yemen, while sharing maritime borders with Iran and Pakistan. Oman has a population of 5,492,196 and is ranked the 120th most populous country in the world.
The economy of Oman is mainly centered around its oil sector, with fishing and trading activities located around its coastal regions. When oil was discovered in 1964, the production and export increased significantly. The government has made plans to diversify away from oil under its privatization and Omanization policies. This has helped raise Oman's GDP per capita continuously in the past 50 years. It grew 339% in the 1960s, reaching a peak growth of 1,370% in the 1970s. Similar to the pricing of all other commodities, the price of oil is subject to significant fluctuations over time, especially those associated with the business cycle. A commodity's price will rise sharply when demand, like that for oil, outpaces supply; meanwhile, when supply outpaces demand, prices will fall.
The economy of the United Arab Emirates (UAE) is the 4th largest in the Middle East, with a gross domestic product (GDP) of US$503 billion in 2022.
Petroleum Development Oman (PDO) is the leading exploration and production company in the Sultanate of Oman. The Company delivers the majority of the country's crude oil production and natural gas supply. The company is owned by the Government of Oman, Royal Dutch Shell (34%), TotalEnergies (4%) and Partex (2%). The first economic oil find was made in 1962, and the first oil consignment was exported in 1967.
Sohar is the capital and largest city of the Al Batinah North Governorate in Oman. An ancient capital of the country that once served as an important Islamic port town, Sohar has also been credited as the mythical birthplace of Sinbad the Sailor.
VT Group is a privately held United States defense and services company, with its origins in a former British shipbuilding group, previously known as Vosper Thornycroft. The British part of VT Group was integrated into Babcock International in the early 2010s. In July 2012, The Resolute Fund II, LP, an affiliate of The Jordan Company acquired VT Group.
The Arab states of the Persian Gulf refers to a group of Arab states which border the Persian Gulf. There are seven member states of the Arab League in the region: Bahrain, Kuwait, Iraq, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. Yemen is bound to the six countries of the Gulf Cooperation Council, based on history and culture.
The economy of the Middle East is very diverse, with national economies ranging from hydrocarbon-exporting rentiers to centralized socialist economies and free-market economies. The region is best known for oil production and export, which significantly impacts the entire region through the wealth it generates and through labor utilization. In recent years, many of the countries in the region have undertaken efforts to diversify their economies.
Indian Farmers Fertiliser Cooperative Limited, also known as IFFCO, is a multi-state cooperative society. IFFCO is wholly owned by Cooperative Societies of India. The society is engaged in the business of manufacturing and marketing of fertilizers. IFFCO is headquartered in New Delhi, India. Started in 1967 with 57 member cooperatives, it is today the biggest co-op in the world by turnover on GDP per capita, with around 35,000 member cooperatives reaching over 50 million Indian farmers.
Distilleries Company of Sri Lanka PLC (DCSL) is a diversified Sri Lankan conglomerate listed on the Colombo Stock Exchange with a market capitalisation of US$600 Million. It was one of the first Sri Lankan companies included in Forbes's list of non-US Best Managed companies valued under US$1 billion. The company has also been featured in the business magazine Business Today as one of its Top 10 listed companies in Sri Lanka.
Agriculture in Oman has been important for centuries. The government's economic development policy emphasizes the expansion of such non-oil sectors as agriculture, fishing, industry, and mining in its bid to diversify the economy and diminish its dependence on oil exports. The goal is to establish a sustainable economic base in preparation for the time when hydrocarbon reserves are depleted. The government launched several economic campaigns, naming 1988 and 1989 as Years of Agriculture and 1991 and 1992 as Years of Industry. Through these campaigns, the government has encouraged private-sector investment by allocating generous amounts of cash support for private industry to be disbursed mainly through official development banks. For example, the Oman Bank for Agriculture and Fisheries, created in 1981, extends loans at concessionary rates to individuals for whom farming or fishing is the principal activity. The bank acts as a distributive institution, receiving an interest subsidy from the government. In 1990 there were 1,308 loans, totaling RO4.7 million. Development programs also incorporate the government's policy of indigenization, with a large component of funds.
The relations between the United Kingdom and Oman are strong and strategic.
The Economic Complexity Index (ECI) is a holistic measure of the productive capabilities of large economic systems, usually cities, regions, or countries. In particular, the ECI looks to explain the knowledge accumulated in a population and that is expressed in the economic activities present in a city, country, or region. To achieve this goal, the ECI defines the knowledge available in a location, as the average knowledge of the activities present in it, and the knowledge of an activity as the average knowledge of the places where that economic activity is conducted. The product equivalent of the Economic Complexity Index is the Product Complexity Index or PCI.
A petrostate or oil state is a country whose economy is heavily dependent on the extraction and export of oil or natural gas. The presence alone of large oil and gas industries does not define a petrostate; countries like Norway, Canada, and the United States are major oil producers but also have diversified economies. Petrostates also have highly concentrated political and economic power, resting in the hands of an elite, as well as unaccountable political institutions which are susceptible to corruption.
Bilateral and diplomatic relations exist between these two countries. Bahrain does not have an embassy in Spain, it relates its diplomatic activities in this country through its embassy in Paris. Spain also has no embassy in Bahrain, but its embassy in Kuwait is accredited to this country, Spain has an Honorary Consulate in Manama (Bahrain).
Etihad Credit Insurance (ECI) is the official export credit agency of the United Arab Emirates. The agency "aims to support the economic diversification by guaranteeing commercial and non-commercial risks associated with export and re-export of goods and services".
