Oman Gas Costs in 2015 to Rise by 2.1 Mln Rials

Source: Reuters 11/30/2014, Location: Middle East

Oman Cement's costs will increase by 2.1 million rials ($5.45 million) in 2015 when the government introduces planned hikes to gas prices, the company said.

Oman Cement said the proposed gas price rises will be effective Jan. 1 and will increase every year at rates specified by the Ministry of Oil and Gas, according to a filing to Muscat's bourse.

The company did not provide further details on these future increases, but said its costs in 2015 would rise by 2.1 million rials.

Oman Cement said it would try to minimise the impact of the higher gas prices by improving productivity, restructuring its own pricing and reducing other costs.

Last week, an advisory body to Oman's government suggested sweeping spending cuts and tax rises, including a levy on liquefied natural gas exports, to cope with the hit to state revenues from the plunge in oil prices.


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Related Categories: Coal  Electricity  General  Natural Gas  Oil 

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