Merger of Oman Oil, and Or­pic to help max­imise rev­enue

Times of Oman - - MARKE -

MUS­CAT: The aim of the merger be­tween Oman Oil Com­pany and Oman Re­finer­ies and Petroleum In­dus­tries Com­pany (Or­pic) is to en­sure in­te­gra­tion among the state-owned com­pa­nies, re­duce the cost and max­imise rev­enues, said Nasser bin Khamis Al Jashmi, Un­der­sec­re­tary of the Min­istry of Fi­nance.

Al Jashmi said this while at­tend­ing the 1st Sus­tain­abil­ity Con­fer­ence which was opened at Oman Con­ven­tion and Ex­hi­bi­tion Cen­tre on Tues­day.

“The con­sul­tancy com­pany has been man­dated with study­ing this merger pointed out that merger may gen­er­ate about $3 bil­lion, dur­ing the merger im­ple­men­ta­tion phase,” he added.

On the other hand, Al Jashmi said that the cost of the pro­mo­tion of 2010 pub­lic em­ploy­ees, which came into ef­fect from Novem­ber 1, 2018, is es­ti­mated at OMR70 mil­lion for one year.

– ONA

Nasser bin Khamis Al Jashmi.

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