Oman plans to auction for two million barrels of oil on the Dubai Mercantile Exchange
Oman's oil and gas ministry will auction on the Dubai Mercantile Exchange on Thursday to sell two million barrels of crude oil for loading in March.

The minimum bids will be equal to the official sale price of crude in March, with the auction being only two minutes.

The oil industry contributes 44% of Oman's GDP, while Oman aims to reduce it to only 22% by 2020, investing $ 106 billion over five years.

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