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Oman A secretive land

Oman A secretive land. Contents. General Information Historical overview Oil Discovery 1970: Oman’s Renaissance 1980-1990: A decade of economic turmoil Oil: blessing or curse? Longer-term perspectives Conclusion. General Information. Oman. Population: 2,567,000 (July 2005 est.)

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Oman A secretive land

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  1. Oman A secretive land

  2. Contents • General Information • Historical overview • Oil Discovery • 1970: Oman’s Renaissance • 1980-1990: A decade of economic turmoil • Oil: blessing or curse? Longer-term perspectives • Conclusion

  3. General Information

  4. Oman • Population: 2,567,000 (July 2005 est.) • Religions: Ibadhi Muslim (75%), Sunni Muslim, Shi’a Muslim • Monarchy ( Sultan Qaboos) • Strategic location (Strait of Hormuz) • Member of the Gulf Cooperation Council but not of the OPEC

  5. Historical Overview • Ancient times: the incense and spice route • Towards independence (1650) • The heyday of the Omani empire • A history dominated by the struggle of conflicting interests (tribal, ethnic, political, commercial, geographic…) • The decline of the 20th Century

  6. Oil Discovery • Oil and Politics:  oil industry concentrates wealth and power in the hands of the governments • Oman: a Rentier state? • Oil and Economy: in 2004, oil & gas revenues accounted for 78% of the government revenue Oman owns its own National Petroleum Company • The reign of Sultan Said: a restrictive rule

  7. Oman’s renaissance July, 23rd 1970: Sultan Qaboos takes over power: • Political changes • 1971: Oman enters the UN • 1981: Creation of a State Consultative Council • 1996: “Basic Statute of the State” • Economical and social development • Infrastructure (roads, ports, hospitals…) • Education • Healthcare

  8. 1980-1990: A decade of economic turmoil • A recurrent problem: a limited resource base • Fluctuating prices of the oil market • The hiccups of the modernisation program

  9. Evolution of crude oil prices since 1961 (Source: BP Statistical Review of World Energy 2005)

  10. Oil: Blessing or Curse? • 1980-1997: general improvement of the population’s well-being • Oman’s economy remains based on a monocultural exportation (Oil) • The oil industry creates little employement • 3 alternatives: • Economic diversification • Omanisation • Privatization

  11. Economic diversification • Natural gas • In 2005  5% of the GDP • Limited resources • Minerals • Copper • Coal • Marble

  12. Economic diversification 3. Agriculture and fisheries • Date and frankincense producer • Cattle herds (goats, camels, cows) • Fishing Oman has 3165 km of coastlines

  13. Economic diversification • Tourism • Today, this sector represents less than 1% of the GDP • Massif investment  1billion/year from the private sector

  14. Omanisation • In 1997, 65% of the labour forces were expatriates conflicts with the younger generations now confronted to unemployment • The government now aims to replace foreign workers by qualified omanis

  15. Privatization • A key element in the economic policy • Privatization mainly in the industrial, commercial and tourism companies • In the public sector (water, electricity, postal services)

  16. Conclusion • Mitigated progress • Institutional weaknesses • Population torn between tradition and modernity • An important population growth rate (3,32% in 2005) • Oman needs to be more incorporated in regional policies

  17. Bibliography • Allen, C. H., Rigsbee, W. L. II., Oman under Qaboos, from Coup to Constitution, 1970-1996, Frank Cass Publishers, 2002. • Beasant, J., Oman: the true-life drama and intrigue of an Arab State, Mainstream Publishing, 2002. • Joyce, M., The sultanate of Oman: a twentieth century history, Praeger, Westport, 1995. • Mansur, A. S., Oman beyond the oil horizon: policies toward sustainable growth, ed. by Ashan Mansur & Volker Treichel, Wahsington D.C: International Monetary Fund, 1999. • Plekhanov, S., A reformer on the Throne: Sultan Qaboos Bin Said Al Said, Trident Press, 2004. • http://www.moneoman.gov.om • http://www.omanet.om • http://www.omantourism.gov.om

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