InfoAnda - Oman says to trim 2009 spending if sub-$45 oil

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Oman says to trim 2009 spending if sub-$45 oil Reuters - Sunday, January 4 MUSCAT, Jan 3 - Oman will cut public spending this year if the average oil price slips below the $45 per barrel it budgeted for 2009, the economy minister said on Saturday. The 6.424 billion Omani rial budget with an estimated shortfall of 0.81 billion rials was approved by the Sultanate's ruler on Thursday. "If the oil price falls below $45 per barrel then we are going to revise the 2009 budget and cut down the number of projects this year," Ahmad bin Abdul-Nabi Mekki told Reuters on the sidelines of a press conference. The previous year's budget was also based on a $45 price for the barrel of oil. Brent crude <LCOc1> closed at $46.91 on Friday. (Reporting by Saleh al-Shaibany, writing by Raissa Kasolowsky; editing by Chris Pizzey) Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike Oman says to trim 2009 spending if sub-$45 oilReuters - Sunday, January 4 Oil ends 2008 with surge, but more than 100 dlrs below recordAFP - Thursday, January 1 Libya orders oil cuts of 270K bpdAP - Wednesday, December 31 Venezuela tells India's ONGC it must cut outputReuters - Wednesday, December 31 Related Articles: Business Ukraine: Russia not pumping enough gas for EU transitReuters - 1 hour 1 minute ago EU resists participating in Russia-Ukraine disputeReuters - 1 hour 6 minutes ago FACTBOX-Major disputes between Russia and UkraineReuters - 1 hour 12 minutes ago WRAPUP 5-Russia gas row disruption spreads, no talks in sightReuters - 1 hour 20 minutes ago Saudi Nov money supply growth eases despite rate cutsReuters - 2 hours 8 minutes ago Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Business Viewed Rare Bugatti untouched for 50 years could fetch millions: report World's oldest person dies at the age of 115 Vogue editor biggest fashion flop of 08: Time Paulson blames global imbalances for credit crisis: report US steel industry in collapse, eyes government aid: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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