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Oman loses $200m due to halt in oil exports

Muscat, June 11, 2007

Oman lost $200 million last  week because Cyclone Gonu halted its oil exports, the Kuwaiti state news agency Kuna cited an Omani government official as saying on Monday.

The official, who asked not to be named, said Mina al Fahal, Oman's only oil terminal for its 650,000 barrels per day output, and the country's liquefied natural gas (LNG) terminal of Sur, have been operating normally since Saturday.

"All oil exports have resumed on Saturday," Kuna said quoting the official. "All pipelines were unaffected."

Energy facilities in Oman were halted for three days during the hurricane. Petroleum Development Oman said last week that operations and facilities escaped damage.

Gonu, which slammed into Oman on Wednesday, killed at least 49 people.

Meanwhile, Oman Telecommunications Company (Omantel) said it would disclose its assessment of its losses from Cyclone Gonu after repairing its damaged network.

Oman's stock market regulator asked companies on Sunday to report any losses they may have suffered from Gonu, which battered Oman's coast last week and forced the bourse to close for three trading days. The market reopened today (June11).

"Omantel will assess the amount of losses it has incurred as a result of the (cyclone) later and will disclose it once telecommunications traffic has returned to normal," the company said in a statement on the bourse Web site on Sunday. - Reuters     




Tags: oil | Oman | Muscat | Cyclone Gonu |

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