As part of OQ’s integration, the company organised the nine legacy core businesses into two business units (Upstream and downstream) and four central functions (Commercial, Finance and Strategy, People and Culture, as well as Projects and Technology). Part of the Commercial central function, Supply and Retail provides logistical solutions and risk management tools supporting the portfolio of OQ products.
OQ is dedicated to being a good corporate citizen and taking care of the planet. Our position as a global integrated energy company offers us better possibilities for adapting and testing new technological solutions for safer and sustainable oil exploration and extraction as part of our upstream business unit.
Our upstream production is targeted to reach 245,000 boe/day by 2030, including operated concessions and joint ventures.
As we expand our footprint, green efficiency does not have to be antithetical to oil and gas production, processing and energy transmission. OQ's critical know-how as energy industry experts translates into processes and solutions that decrease air pollution, promote water protection, mitigate the effects of climate change, and reduce our overall carbon footprint.
Being a global player also means the ability to benefit from the lessons learnt by others in the industry.
OQ's downstream value chain produces a broad range of products belonging to numerous consumer categories found in many applications in everyday life.
Comprising of refineries, petrochemicals and specialty chemicals, as well as supply chain services and logistics, OQ's downstream business represents an essential link in our integrated value chain. Sustainability mega-trends pushing towards reducing the supply chain's carbon footprint are driving greater efficiency.
As business sector experts, OQ's research-led, industry-focused approach lends itself to developing innovative solutions for our global client network, ensuring security of supply, reliability and affordability.
Incorporated in Dubai in 2006, OQ Supply & Trading is today a global player, with offices in Asia, Europe, the Middle East and the USA, trading nearly 30 million tonnes of energy products each year.
This business unit is responsible for managing the domestic and international supply of OQ products, as well as trading both OQ and third-party crude oil, refined petroleum products, petrochemicals, LNG and dry bulk. Our global network of trading offices, ideally located in all the major oil trading regions, allows us to capture value from arbitrage flows and evolving market dynamics, utilising our world class logistics and supply chain management capabilities.
OQ Supply & Trading’s refined petroleum products portfolio includes gasoline and gasoline components, naphtha, middle distillates, liquified petroleum gas (LPG) and fuel oil. The petrochemicals trading portfolio includes, but is not limited to, paraxylene, benzene and methanol.
Our experience and understanding of oil markets enable us to implement structured transactions on the business' financial side to support our customers in an extremely volatile environment.
Retail represents an important growth area for OQ. Our retail and commercial fuel network, including related product distribution, spans to 12 countries around the world and supports 345 retail outlets.
Two of our major fuel supply investments include OOMCO (Oman Oil Marketing Company) – which sources all of its fuel from OQ refineries via a long-term agreement serving its 225+ outlets, and Haas – which represents 9 East African countries with 120 outlets.
Our dual domestic and internation focus provides valuable access to retail margins, supports the placement of products, and provides OQ with direct access to end users.
Whether it is fuels or petrochemicals products, our group produces a wide range of end use products or material for further downstream processing.
OQ is a global manufacturer of polymers (polypropylene and polyethylene), oxo intermediates (aldehydes, alcohols and esters) and oxo derivatives (polyols, carboxylic acids, specialty esters, and amines). Those three segments represent our performance chemicals offerings.
Our products serve a wide range of industries and applications, including packaging, construction, automotive, healthcare and agrochemicals. Some of the products include high-quality coatings, lubricants, cosmetics and pharmaceutical products, flavours and fragrances, printing inks and plastics.
OQ Supply & Trading is responsible for managing the domestic and international supply of OQ products, as well as trading both OQ and third-party crude oil, petroleum products, petrochemicals, LNG and dry bulk.