In the current era of the business market, it is a great requirement of the market to build strategies that could be helpful in maintaining a competitive advantage in the business market. However, it is a difficult task for the management to perform but it is required to maintain sustainability in the business. Companies could get success in the market with the implementation of the strategic analysis which provides an opportunity to get success in the future. Furthermore, the outside and inward elements which is used in the business, that is used in the organization works, viewed as profoundly powerful for an organization's key choices and their execution. It means that the company should select the strategies which are used to implement sustainability in the work of the company to gain success in the future. For this purpose, there must be proper market research about the policies which are important to implement in the work of the company. The main objective of this report is to provide an analysis of the Petroleum Development Oman (PDO) with the analysis of the industry in which the company is being operated. To give a clear overview of the company’s strategies there is the division of the report in different sections which elaborate the strategies in a more clear way (Lamki & Terken., 1997).

Company overview of Petroleum Development Oman

Petroleum Development Oman is founded in Muscat about in 1925. The company is well-known to extract oil, and organization of the government-owned by the state of Oman. The operation of the organization is not limited up to oil exploration and development but also to deal with the transportation and storage of hydrocarbons. It is also working in the creation of gas and crude oil which is supplied all over Oman. In the initial stage, the company was known as Petroleum Development of Oman Ltd but later it converted into LLC which is considered for the production of unrefined oil of Oman which is up to 70% of the total production of oil and gas in Oman (Guillermo Rocco & al, 2010).

Vision statement of Petroleum Development Oman

To be a world-class midstream gas value chain company in Oman

Mission statement of Petroleum Development Oman

To maximize Country’s value by developing and operating Oil & Gas facilities to international standards through innovation, efficiency, and development of local talent

External Environment Analysis of Petroleum Development Oman

PESTEL analysis:

· The political factors analysis includes:

§ Political battles

§ Political uncertainty

§ Effect of government plans

· Economic analysis

§ Growing prices of oil and gas

§ Reduction in oil construction

§ Economic crisis

§ Excess of debts paid by the government

· Social analysis

§ Awareness about the use of oil made of fossil fuel

§ Increase in usage of oil

§ The perspective of oil and gas mining

· Technological factors analysis

§ Absence of skilled labor

§ The high cost of growth

· Environmental analysis

§ Population intervention in the mining of oil and gas

· Legal analysis

§ Strict regulations

Analysis of Petroleum Development Oman:

External situation examination of the petroleum sectorin Oman, it is concluded from the analysis that the industry has a great impact on the political condition of the country. The political conflict impact the business sector which requires higher implementation of the policies and procedures which affect the oil industry in Oman. Oman is considered as the major supplier of oil in the Oman and generates almost 70% of revenue for the states. Petroleum Development Oman (PDO) is a large organization which is working in the industry of oil with the stabilized the refinery of oil which is helpful in gaining the expansion of the production of the oil and gas. It may also effect the finance of the country which is detoriating in the sustainability of the organization. (Nandyal, et al., 1983).

Oil Development Oman (PDO) is the state-claimed organization and has been creating a severe effect of the administration guidelines and experts as far as the situation of oil assets. The accessibility of oil assets has been diminishing that has made an important impact on the organization's productivity as per the Omani environmental security authorities. In addition, according to the survey of 2018, the nation has likewise been sending out the combustible gas and the LPG that additionally may definitely affect the general benefit of the organization. Also, it has been surveyed that there are exceptionally exacting guidelines for the nation as far as the execution of arrangements for the protected oil and gas mining. The ecological arrangements of the nation huge affect Petroleum Development Oman (PDO) that will be limited by executing the procedures for the decrease of natural contamination inside the mining of oil and gas (Marina.Gregorić, 2014).

Internal environmental analysis of Petroleum Development Oman

Porter’s five forces model of Petroleum Development Oman

Porter’s five forces model is used to estimate the performance of the company that how it is being implementing the strategies to get the economical advantage in the competitive market. Therefore the framework of petroleum development Oman is explained below:

· Bargaining power of buyers of Petroleum Development Oman

Bargaining control of the oil industry of Oman is based on the measures existing in the economy. Large organizations and companies are customer of the petroleum development Oman. Therefore the bargaining power of the customer is low for which government is taking measures to change the economy of the country which will affect the bargaining power also as they could get oil in low prices.

· Bargaining power of suppliers of Petroleum Development Oman

Bargaining power of suppliers of petroleum development Oman is low as a large number of supplier is supplying the oil to the economy with different name of company. One of the main problem in the low rate is dependency on the policies made by the government which support the economy with different fiscal policies which are used to support the economy. In any case, the suppliers have been given different alternatives including practical and creative stores enabling them to expect the cost of removed unrefined petroleum and flammable gas. Along these lines, even through the improvement and procedures taken by the administration, the provider's capacity stays low in the business.

· Threat of new entrants of Petroleum Development Oman

Threat of new entrants is depend on the hurdles enforced by the government that is faced by the new firm. The threat is low in the Oman as government has imposed restrictions on the process of enter in the business market. Furthermore, the industry of oil in Oman is most likely to be unsaturated and oil companies are being owned by the government therefore there are many barriers for new firms to enter in the industry.

· Threat of substitute of Petroleum Development Oman

Petroleum sectorbasically found no additional but there may be various skills which are used by the different companies for the miningof oil and gas. There is no such as product in the market which could be replaced with the oil or gas need. Therefore the threat of substitute is considered low.

· Rivalry of Petroleum Development Oman

Economical rivalry in petroleum sectoris depend on the national and international business organization. It is considered that petroleum sectorof Oman is known as most competitive industry in the world. There are many oil companies who have contracted with Omani companies to create the joint venture for the miningof crude oil and natural gas. The rivalry for PDO in the oil and petroleum gas industry is low however the reliance on the administration is high that is casting a current upper hand of the firm in the market and requires suitable measures to support focused control by managing value conflicts and other worldwide firms' and government's impact on the organization.

Marketing strategy for the PDO

Petroleum development Oman is currently working with the strategy which could be identified such as STP strategy which based on three dimensions such as segmentation, targeting and positioning which is analyzed below:

Segmentation: is referred to the term which is used to explain the distribution of the people in same group based on demographics, psychographics and behavioral situation. The segmentation of Petroleum development Oman is based on the other companies which are working in the segmentation of the of the oil industry outside the country. However the company is working in its limits within the demographic segmentation.

Targeting: targeting strategy of the PDO is collaborated with the business to business dealing with the customers in different condition around the world. Company is working with the different dealing of the goods and the products which is relevant to oil and gas in lower prices which also cause of decrease in the income and profit of the company. The main objective of the targeting to reduce the interest cost which is not deniable in the exploration of the company. The stability in the economic requirements the low prices of the unrefined oil could also overcome the exports in the region.

Positioning: Petroleum development Oman is positioned in the market depending on the policies of the government which is owned by the different oil companies. The future aspects are connected with the different sale point with the different strategies which is adopted by the different companies (Demir, et al., 2010)

Strategic options and resources of Petroleum Development Oman

After the internal and external elements as well as current strategy assessment following strategies are suggested for the Petroleum development Oman:

§ Build unique selling points

§ Partnership with the international firms

§ Adopt innovative techniques in miningof oil

Direction to implement the strategy of Petroleum Development Oman

The best strategy for PDO to get the competitive advantage in the market is to get the partnership with international firms which are helpful for the organization to get success all over the world with its products. There could be effective utilization of the resources to export the oil and gas in U.S. which will become center of attraction in the market of oil and gas. It could also be possible to make selling point which is unique in the sale strategies in the market. It will be helpful for PDO to get competitive advantage in the market (Bachner, et al., n.d.).

Conclusion of Petroleum Development Oman

The main b=objective of this study is to implement the strategies which are iused to get the competitive advantage in the market to the petroleum development Oman after getting the complete analysis of the organization in which the company is operating with its functions. , it is concluded from the analysis that the industry has a great impact on the political condition of the country. The political conflict impact the business sector which requires higher implementation of the policies and procedures which affect the oil industry in Oman.Companies could get success in the market with the implementation of the strategic analysis which provide opportunity to get the success in the market. It means that the company should select the strategies which are used to implement sustainability in the work of the company to gain success in the future. For this purpose, there must be proper market research about the policies which are important to implement in the work of the company. The state of Oman also has threat of decreasing prices of oil which could bring collaps in the oil and gas industry. After the internal and external elements as well as current strategy assessment strategies are suggested for the Petroleum development Oman such as; Build unique selling points, Partnership with the international firms and Adopt innovative techniques in mining of oil. It is concluded that these strategies could be helpful to attain the key position in the market.

(B.Bierman, et al., 2014).

References of Petroleum Development Oman

B.Bierman, et al., 2014. Construction of an enclosed trough EOR system in South Oman.. Energy Procedia, Volume 49, pp. 1756-1765.

Bachner, G., Mayer, J. & Steininger, K. W., n.d. Energy Strategy Reviews.

Demir, K. A. et al., 2010. "Competitive advantage of wind power industry for Turkey: Analysis of factor conditions in Porter’s diamond model.". In 9th World Wind Energy Conference & Renewable Energy Exhibition, Istanbul, , pp. 15-17.

Guillermo Rocco, .. & al, e., 2010. Steam Development Areal Surveillance Programme in Petroleum Development Oman. In SPE EOR Conference at Oil & Gas West Asia. Society of Petroleum Engineers,.

Lamki, M. S. A. & Terken., J. J., 1997. The role of hydrogeology in Petroleum Development Oman. GeoArabia, 1(4), pp. 495-510.

Marina.Gregorić, 2014. PESTEL analysis of tourism destinations in the perspective of business tourism (MICE).. In 22nd International Congress, Tourism & Hospitality Industry 2014, Trends in Tourism and Hospitality Management..

Nandyal, M., Thurber, S. S., Al-Hinai, K. M. & Jaffer., N. A., 1983. Development of heavy oil reserves in South Oman.. In Middle East Oil Technical Conference and Exhibition. Society of Petroleum Engineers..