Oman’s Ministry of Oil and Gas Signs up for DME AuctionsSource: www.export-egypt.com 11/17/2015, Location: Middle East |
|
|
|
|
|
The Dubai Mercantile Exchange, DME, announced that Oman’s Ministry of Oil and Gas has become the first customer of its recently launched DME Auctions platform. The news is a significant show of support for the first spot commodity auction system in the Middle East.
The Omani Ministry of Oil and Gas will add DME Auctions to their available options to market additional spot exports of Oman Blend Crude Oil. This development highlights the Sultanate of Oman’s commitment towards adopting transparency in marketing and pricing its crude oil exports. The Sultanate already uses a fully regulated exchange benchmark – the DME Oman crude oil contract – to establish its official selling price for oil. Owain Johnson, Managing Director of DME, said, "We are honoured by the decision of the Omani Ministry of Oil and Gas to add "DME Auctions" to their current tools to sell spot crude oil. This decision is a great endorsement of our new platform and of DME’s work to enhance transparency in the east of Suez oil markets. At a difficult time for the oil markets, the need for reliable and regulated benchmarks has never been greater. We salute the Oman government’s commitment to transparency and we look forward to working closely with the ministry to launch the crude oil auctions whenever the volumes are available." |
|
|
Financials and Investment News in Oman >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Oman Oil & Gas 1 >> |
