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Commercial

Supply & Trading

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Supply & Trading

OQ Trading has a track record of being a reliable supplier to our customers in the international arena as well as the domestic market in the Sultanate of Oman. We actively supply and trade a wide range of hydrocarbons including crude oil, refined petroleum products (encompassing gasoline components, naphtha, Jet A-1, Diesel, Liquified petroleum gas (LPG) and fuel oil), LNG and dry bulk (Petcoke, Sulphur and Urea), as well as petrochemicals such as paraxylene, benzene and methanol.

Incorporated in Dubai in 2006, OQ Trading has established itself as a significant international player, with offices in Asia, Europe, the Middle East and the USA. With a global network of trading offices, ideally located in all the major oil trading regions, we are able to capture value from arbitrage flows and evolving market dynamics, utilising our world-class logistics and supply chain management capabilities. In 2019, OQ Trading delivered almost 30 million metric tonnes of hydrocarbons to our customers and record profits to our shareholders, with global revenues exceeding USD 13 billion. Our experience and understanding of oil markets continue to enable us to implement structured transactions on the business' financial side to support our customers in an extremely volatile environment.

In the Sultanate, we are responsible for the entire domestic supply of cooking gas (LPG), gasoline (M91/M95), and gasoil (diesel), as well as JET A-1 aviation fuel to the airports. Total domestic sales volume during 2019 was just below 5 million metric tonnes across the regulated products of gasoline and gasoil to over 600 filling stations across Oman. We work closely with the two fuel regulatory bodies, the Ministry of Commerce & Industry and the Ministry of Energy & Minerals, to ensure adherence to all transportation and distribution regulations as well as the provision to customers of highest quality products which meet the domestic specifications of Oman. In addition, we are proud to support the local market through introduction of new high grade products such as the Utimax (Mogas 98) supplied to Oman Oil Marketing Company, as well as sales of Sulphur and Urea with total volumes annually of 60,000 metric tonnes and 30,000 metric tonnes respectively.

Trading

OQ 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.

Retail

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Retail

Retail represents an important growth area for OQ. Today in Oman there are about 620 stations that are divided between three main retailers, one of which is Oman Oil Marketing Company (OOMCO). OQ owns 49% stake in OOMCO. OOMCO has over 35% market share in Oman, with an aim to increase its position by focusing on increasing both its market share and Non-Fuel Revenue (NFR). OOMCO operates more than 230 fuel stations in Oman, Saudi Arabia and Tanzania. OQ Retail’s second main hub is East Africa, OQ owns 40% stake in Hass Petroleum (HASS), headquartered in Kenya, with more than 120 stations in 9 countries. These retail stations source all their fuel from OQ refineries via a long-term supply agreement with more than 1 million liters per annum. Both OOMCO and HASS represent a good platform for OQ to leverage in the fuel retail business locally and internationally.

As part of OQ Retail strategy, OQ is planning to expand its network through acquisition and organic growth to reach around 2,500 stations by 2030 with more than 134 kbd of retail volumes with an investment of $1.5b by 2030. The implementation of the retail strategy will contribute to the retail presence and contribution to the overall OQ portfolio. A significant part of the road map to success will be adapting to emerging trends through increased digitalisation and advanced mobilities. In addition, storage and logistics will play an important enabler to the retail network expansion in the targeted market.

OQ Retail domestic and international presence provides access to retail margins, supports the placement of OQ products, and provides OQ with direct access to end-users. OQ Retail’s M&A and organic growth will be key to achieve our goal by 2030.

Performance chemicals

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Performance chemicals

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.