OQ – a diversified energy company created at the end of 2019 by integrating nine legacy energy companies – serves as a catalyst to optimise solutions for its partners and clients, and spans the entire hydrocarbon value chain, from upstream to midstream and downstream, including supply and trading sectors. “The integration makes all of our units stronger, more efficient, more agile and innovative,” says Ahmed Al Jahdhami, Downstream CEO, OQ.
At the end of 2019, OQ was created by integrating nine legacy energy companies in Oman, under the leadership of Oman Oil Company and Orpic. It was an obvious strategic move for the companies involved.
The nine different, state-owned Omani companies – Oman Oil Company, Orpic, Oman Oil Company Exploration and Production, Oman Gas Company, Duqm Refinery, Salalah Methanol Company, Oman Trading International, OXEA, and Salalah Liquefied Petroleum Gas – had the potential to do so much more as a single entity, and to achieve economies of scale along with savings by combining all their resources, and beginning to share systems, such as procurement and ERP. It was a simple choice to make, although not necessarily simple to achieve.
As a global, integrated energy player, OQ representing Oman, puts the company on a different footing. OQ has more than 6,500 employees and operations in 16 countries. OQ Chemicals is based in Germany while OQ Trading is based in Dubai. That was true before when these companies were independent units.