Oman is a rural, agricultural country, and fishing and overseas trading are important to the coastal populations. Oil in commercial quantities was discovered in Oman in 1964 and was first exported in 1967. Subsequently the production and export of petroleum rapidly came to dominate the country’s economy. Oil revenues represent roughly two-fifths of gross domestic product (GDP) and about three-fourths of the government’s income.
In anticipation of the eventual depletion of oil reserves, the government in 1996 initiated a plan for the…
