Petroleum Development Oman discovers significant hydrocarbon reserves boosting national energy outlook.
Petroleum Development Oman (PDO) has announced the discovery of significant hydrocarbon reserves in the southern region of the Sultanate. Preliminary estimates suggest the discovery could add 2 billion barrels of recoverable oil to Oman's proven reserves. The announcement sent positive signals across the Muscat Stock Exchange, with energy sector stocks gaining an average of 8.5%.
