Oman Update - OG861

24 May 2008

• The interest levied on commercial loans or debts has been set at 8 per cent but can be lower if the parties have agreed otherwise. This cap will not, however, apply to banks, finance companies or asset leasing companies.
• A new law has approved the assignment of Maersk Oil Oman BV's rights and obligations under the oil agreement in relation to Blocks 45 and 48 to Petrogas LLC.
  

• Abdelrahman Elnafie