EXPLORING NEW OPPORTUNITIES
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.