Oman's 2025 Public Revenues Rise 8% to OMR12.12 Billion

Oman's public revenues for fiscal year 2025 surpassed initial projections by 8%, reaching OMR12.122 billion, according to the Ministry of Finance's final account. This revenue surge is largely attributed to increased earnings from oil and gas.

Despite higher revenues, public spending also saw a 7% rise, totaling approximately OMR12.583 billion. This increase was fueled by greater social spending and measures to stimulate economic activity, including enhanced subsidies for petroleum products and the electricity sector, as well as accelerated development spending on ongoing projects.

The combination of increased revenues and spending resulted in a realized budget deficit of OMR461 million, a 26% reduction compared to the initially projected deficit of OMR620 million.

Oil revenues, specifically, jumped 11% above the budget estimate to OMR8.481 billion. This was driven by an average oil price of $72 per barrel, exceeding the budgeted $60 per barrel. Daily oil and condensate production remained steady at around 999,000 barrels, aligning with OPEC Plus voluntary reduction commitments.

Gas revenues also contributed positively, increasing by 4% to OMR1.841 billion, thanks to higher liquefied natural gas (LNG) selling prices. Non-oil revenues showed a modest increase of OMR68 million compared to the budget, reaching approximately OMR3.641 billion.