Buoyant international energy prices are expected to contribute to a significant increase in Oman LNG’s 2011 revenues, according to the company’s General Manager and Chief Executive.
“Between 2010 and 2011 the average price of energy has increased some 35-40 per cent. So in terms of revenue creation for Oman, 2011 has been a hugely successful year even if the volumes haven’t changed,” Dr Brian Buckley stated in comments to the
Observer.
The average price of oil climbed from around $77 per barrel at the end of 2010 to just over $100 per barrel at the end of last year — an increase that will be directly reflected in Oman LNG’s 2011 financial results due to released sometime next month. “So there will be a significant result announced in a few weeks time,” he said.
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