EX­PLOR­ING NEW OP­POR­TU­NI­TIES

Oil and Gas - - EDITOR’S NOTE -

Oman Oil Mar­ket­ing Com­pany is ex­pand­ing its foot­print in the re­gion and other in­ter­na­tional mar­kets. The com­pany will op­er­ate its first ser­vice sta­tion in KSA this year and ex­plore new op­por­tu­ni­ties in other coun­tries. The com­pany is lead­ing the sec­tor in terms of vol­ume growth as the first half of 2018 has been very pos­i­tive with sales growth of 23 per cent com­pared to same pe­riod last year. The to­tal sales value is re­ported at RO301.18 mil­lion, with an in­crease of RO55.5 mil­lion against the sales of RO245.719 mil­lion as of June 2017. This growth was sup­ported by the in­crease in fuel prices, the open­ing of new ser­vice sta­tions and ac­tive mar­ket­ing cam­paigns gen­er­at­ing more sales vol­ume. The com­pany is strate­gi­cally fo­cussed on the qual­i­ta­tive de­vel­op­ment of its re­tail net­work by in­tro­duc­ing pre­mium sites with mod­ern con­cepts and in­no­va­tions.

Mean­while, oil de­mand growth in the Mid­dle East is an­tic­i­pated to gain fur­ther strength in 2019 com­pared with the cur­rent year, with cur­rent es­ti­ma­tions hov­er­ing around 90 tb/d of fore­cast oil de­mand growth, amid a strong re­bound in eco­nomic ac­tiv­i­ties.

Ad­di­tion­ally, the world is on course to need around a third more en­ergy over the next two decades. So as well as be­ing cleaner, the ex­tra en­ergy also needs to be af­ford­able. That’s why gas is a vi­tal fuel for help­ing ad­vance the en­ergy tran­si­tion.

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