OQ is a global integrated energy company with roots in Oman – operating in 17 countries around the world and covering the entire value chain from exploration and production to marketing and distribution of end-user products. Our fuels and chemicals are sold in over 60 countries worldwide, making us a prominent player in the energy sector.
In late 2019, we successfully merged our nine legacy companies to form a stronger, united and more efficient consolidated entity to become a global player and integrated energy brand offering end to end products, services and solutions in upstream and downstream.
Reliability with an innovative spirit and an agile mindset are unique value-added traits defining our continuing relationships with long-standing customers. OQ brings a personal touch to our growth-focused partnerships across our operating businesses while expanding possibilities as an energy sector conglomerate.
As a versatile innovator, OQ embraces the new momentum and synergies from our integration to expand our horizons and opportunities. This includes the enormous challenges of addressing the ever-growing demand across the value chain for sustainable energy and raw material solutions.
By sharing our combined industry experience and knowledge, we overcome challenges collaboratively. Elevating talent within our organisation, leveraging new ideas to promote agile, forward thinking: we make more possible.
We have set our sights on an ambitious future supported by robust planned investments, an increase in downstream production to 24 million tonnes by 2030, and the introduction of new business lines, including alternative energy, gas management and retail.
Our new Liwa Plastics Industries Complex (LPIC), one of OQ’s largest projects located in Suhar (northern Oman), is an integrated facility designed to optimise the value-adds derived from crude oil and natural gas resources. We're also set to bring our sixth-world-scale production plant into operation for carboxylic acids in 2021, increasing our total production capacity by 30%. Additionally, our new 260,000 b/d DRPIC refinery is on track to start commissioning in late 2022.
OQ also innovates by embracing disruptive technologies ushering the new era of increased digitisation underpinning the Fourth Industrial Revolution. In 2019, OQ completed Oman’s first blockchain trade finance transaction involving the shipment of polypropylene to the Abu Dhabi National Carpet Factory.
As a catalyst for change, the newly integrated company will also facilitate foreign direct investment and private-sector participation in the energy sector.