Magpie Assec Oils Trader Company

Magpie Assec Oils Trader Company developing Gas Oil Company s a commercial company 100 owned by the Government of the Sultanate of Oman. The company was created in 1992 to give the Government a vehicle for pursuing investment opportunities in then energy sector both inside and outside Oman. Through participation in energy and energy related projects, play s a critical role in the Sultanate s efforts to diversify the  economy and to generate Omani and foreign private sector investment.
According to Oil and Gas Journal the Iberian Peninsula had a combined 158 million barrels of proven oil reserves in 2006. Oil consumption in 2005 stood at 1. 9 million barrels per day with Spain contributing the bulk (82 percent) of that amount. Even though oil consumption has increased in absolute terms over the past two decades, its percentage of total energy consumption has declined. Due to the lack of significant domestic oil production, Spain and Portugal depend upon oil imports, with the largest suppliers including Russia, Libya, and Saudi Arabia.