Oman’s oil production this year is targeted at around 990,000 barrels per day (bpd), said Minister of Oil and Gas, Mohammed bin Hamad Al Rumhy, adding it would be difficult to halve the economy’s dependence on oil in five years. Al Rumhy also commented on the target mentioned in the 2016 to 2020 plan to reduce the oil industry’s contribution to Oman’s gross domestic product (GDP) to 22 per cent from 44 per cent. The plan was announced recently in a statement issued by the Supreme Council for Planning. Asked if the target is achievable, Al Rumhy said, “With difficulty.” On the planned Iran-Oman gas pipeline, he said, “We are doing fine. We are progressing.” (Times of Oman)