Oman’s state revenues rise 13% by end of Q2 2026

The state’s public revenues increased by 13 percent until the end of the second quarter of this year, reaching approximately RO 6,602 million, compared to RO 5,839 million during the same period last year. The increase was mainly attributed to higher oil revenues.

According to the Financial Performance Bulletin issued by the Ministry of Finance, public spending reached approximately RO 6,619 million by the end of the second quarter of 2026, an increase of RO 521 million, or 9 percent, compared to RO 6,098 million during the same period in 2025. The increase was driven by higher development and current expenditures compared to the same period last year.

The bulletin explained that net oil revenues increased by 10 percent to RO 3,332 million by the end of the second quarter of 2026, compared to RO 3,018 million during the same period of 2025. The average oil price stood at US$74 per barrel, while average oil production reached 1.074 million barrels per day. Meanwhile, net gas revenues increased by 32 percent to RO 1,164 million, compared to RO 884 million in the same period of 2025.

The bulletin indicated that current revenues collected by the end of the second quarter of 2026 increased by 6 percent to RO 2,045 million, compared to RO 1,928 million during the same period of 2025. On the expenditure side, current expenditures increased by approximately RO 251 million, reaching RO 4,369 million, compared to RO 4,118 million at the end of the second quarter of 2025.

Development expenditures for ministries and civil units amounted to RO 798 million by the end of the second quarter of 2026, including RO 146 million for economic transformation projects. This represented approximately 61 percent of the total development expenditures allocated for 2026, amounting to RO 1,300 million.

Total contributions and other expenses amounted to RO 1,132 million by the end of the second quarter of 2026, a decrease of approximately RO 29 million, or 2 percent, compared to RO 1,161 million during the same period of 2025.

Support for the social protection system, electricity sector and petroleum products amounted to approximately RO 323 million, RO 288 million and RO 162 million, respectively, by the end of the second quarter of 2026. The amount transferred to the debt repayment allocation stood at approximately RO 150 million. Expenses pending settlement amounted to approximately RO 320 million by the end of the second quarter of 2026, compared to approximately RO 130 million during the same period of 2025.

The bulletin indicated that public debt stood at RO 14,160 million at the end of the second quarter of 2026, compared to RO 14,120 million at the end of the same period in 2025, representing a relative increase of approximately 0.3 percent.