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FINANCIAL NEWS
Oman raises natural gas prices sold to industrial units
26 Nov 2014
(MENAFN) Oman government announces it has raised the price of natural gas sold to industries located within various industrial estates, in a move to raise its revenue as the prices of oil continue with their fall, Times of Oman reported.
The government said that the raise in the sale price of natural gas will include all the existing industries and industrial estates in the Sultanate, with the new prices expected to take effect starting from January 1, 201.
The prices of natural gas will then continue to be raised at an annual increase of 3 per cent, with expectations that this increase will affect the revenue of the companies affected by this increase, which might lead them to start considering the pricing of their products, as well as beginning to implement certain cost reduction and efficiency enhancement initiatives.
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