When Oman declined as an entrepot for arms and slaves in the mid-19th century, much of its former prosperity vanished; the economy turned almost exclusively to agriculture, camel and goat herding, fishing, and traditional handicrafts.
Oman's economic performance improved significantly in 1999 due largely to the mid-year upturn in oil prices.
The government moved ahead with privatization of its utilities, and the development of the commercial law to encourage foreign investment.
Oman liberalized its markets in an effort to join the World Trade Organization (WTO) and was accepted in 2000.
In November 2017, Oman Oilfield received steam generated from 1,021 MWth solar thermal plant.