Oman Oil Marketing Company

Last updated
Oman Oil Marketing Company (omanoil)
شركة النفط العمانية للتسويق
IndustryPetroleum Retail
Founded2003
Headquarters Mina Al Fahal,
Muscat
,
Oman
Number of locations
229
Key people
HILAL ALI AL KHARUSI
(Chairman)
Sayadah Rawan Ahmed Al Saidand
(Deputy Chairman)
Hussain Jama B Ishaq Ishaqi
(A/CEO)
Owner Oman Oil Company
Oman Cement Company
BankMuscat
Dhofar International Development & Investment Holding Co
Website www.oomco.com

Oman Oil Marketing Company SAOG (OOMCO) is an Omani fuel marketing company. OOMCO is involved in the marketing and distribution of fuel and lubricant products and operates in the sectors of Fuel Retailing, Direct fuel sales to Government and the Commercial sector, Lubricants, Aviation Refueling and Storage and Distribution. The company has also begun to diversify and expand their business model into retail and customer services. [1] [2]

Contents

History

OOMCO was launched in October 2003, along with its new brand identity, when Oman Oil Company acquired shares of what was formally known as BP Oman in December 2003.

In 2018, OOMCO signed deals with the Muscat Municipality and with Hass Petroleum to supply fuel to the cities fleet of vehicles and to distribute lubricants in Kenya and other Eastern African markets. [3] [4]

In 2018, the company also introduced e-payment via an app at their service stations, partnering with Thawani Technologies. [5]

In September 2018, OOMCO announced plans to expand their network of service stations into Saudi Arabia. [6]

Corporate structure

Management

The chairman of the board of directors is Mulham Al Jarf and vice-chair is Sayadah Rawan Ahmed Al Saidand. The companies operations are led by A/CEO Hussain Jama B Ishaq Ishaqi. [7] [8] [9] [10]

Shareholder structure

Oman Oil Marketing Companies shares are held by Oman Oil Company (OOC) (49%) and the company is operated under one of OOC's main subsidiaries, the Oman Oil Facilities Development Company (see OOC article for additional details). Other shareholders include Oman Cement Company, BankMuscat and Dhofar International Development and Investment Holding Company. [10]

Operations

Fuels and lubricants

OOMCO's business focus lies in the marketing of fuels and lubricants. [11]

The commercial business supplies all sectors of the economy and is particularly strong in the civil engineering and construction industry. The aviation business has the largest market share at Muscat International Airport and is geared up to cater for the proposed expansion over the next few years. Finally, the lubricants operation markets the prestigious BP and Castrol brands of lubricants throughout the Sultanate. [12]

Retail and rental

The retail business operates all across the Sultanate. The company's 211 retail service stations are owned and operated by Omanis and also offer car maintenance services, such as oil changes, car washes and other service packages. [13] [14] The company also operates 105 "Ahlain" convenience stores across the country, which include everyday products, restaurants and cafés. [15] [16] Another arm of business for OOMCO is the rental of business spaces within their service stations. [17]

Miscellaneous

The company is engaged in different campaigns and efforts to benefit Omani communities. [18] [19] The company has also began including solar-systems into some of their service stations since 2018. They also launched an initiative, called "Solar", in partnership with Nafath Renewable Energy. [20] [21] [22]

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References

  1. ↑ "Oman Oil Marketing unveils new strategy". Reuters Zawya. September 23, 2018. Retrieved September 22, 2019.
  2. ↑ "Oman Oil Marketing Company (OOMCO) CEO Omar Ahmed Qatan on energy marketing in Oman". YouTube, The Prospect Group. June 19, 2013. Retrieved September 22, 2019.
  3. ↑ "Oman Oil signs fuel supply deal with Muscat Municipality". Times of Oman. May 16, 2018. Retrieved September 22, 2019.
  4. ↑ "Hass Petroleum inks deal to distribute Oman Oil products". Business Daily Africa. July 11, 2018. Retrieved September 22, 2019.
  5. ↑ "Oman Oil launches new e-payment app". Times of Oman. July 28, 2018. Retrieved September 22, 2019.
  6. ↑ "Oman Oil Marketing Company plans foray into Saudi market". Oman Observer Daily. September 18, 2018. Retrieved September 22, 2019.
  7. ↑ "Hussain Jamaa Appointed Acting CEO Of Oman Oil Marketing Company After Termination Of CEO". www.oerlive.com/. December 1, 2020. Retrieved October 9, 2019.
  8. ↑ "New pricing structure impacts fuel marketing firms in Oman". Reuters Zawya. September 18, 2018. Retrieved October 9, 2019.
  9. ↑ "About Us Our Mission". Oman Oil Marketing Company. Retrieved October 9, 2019.
  10. 1 2 "Investors". Oman Oil Marketing Company. Retrieved October 9, 2019.
  11. ↑ "Lubricants: Oman Oil". Oman Oil Marketing Company. Retrieved October 9, 2019.
  12. ↑ "Lubricants: Castrol". Oman Oil Marketing Company. Retrieved October 9, 2019.
  13. ↑ "Motorists: Fuel". Oman Oil Marketing Company. Retrieved October 31, 2019.
  14. ↑ "Motorists: Car Care". Oman Oil Marketing Company. Retrieved October 31, 2019.
  15. ↑ "Motorists: Ahlain". Oman Oil Marketing Company. Retrieved October 31, 2019.
  16. ↑ "Motorists: Food & Drinks". Oman Oil Marketing Company. Retrieved October 31, 2019.
  17. ↑ "Lubricants: Suppliers & Vendors". Oman Oil Marketing Company. Retrieved October 31, 2019.
  18. ↑ "Oman Oil Marketing Company donates funds". Times of Oman. March 19, 2017. Retrieved October 31, 2019.
  19. ↑ "CSR". Oman Oil Marketing Company. Retrieved October 31, 2019.
  20. ↑ "Oman Oil Marketing Company to Use Solar Energy to Generate Electricity to Its Service Stations". Albawaba. January 8, 2018. Retrieved October 31, 2019.
  21. ↑ "Oman's petrol stations to go solar after schools get same treatment". Arab News. 9 January 2018. Retrieved October 31, 2019.
  22. ↑ "Oman Oil Marketing Company Holds Annual Contractors' Health, Safety, Environment and Quality Forum". Times of Oman. December 11, 2018. Retrieved October 31, 2019.
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