OQBI, OOMCO sign deal to explore sustainable energy solutions

21/05/2026 03:17 AST

OQ Base Industries (OQBI) and Oman Oil Marketing Company (OOMCO) have signed a memorandum of understanding (MoU) to establish a framework for joint cooperation in exploring, evaluating and developing alternative and sustainable energy solutions.

The collaboration aims to support the energy sector's transition efforts while enhancing sustainability initiatives and operational efficiency in Oman.

Under the agreement, the two companies will study a range of initiatives, including solar energy solutions, the development of electric vehicle (EV) charging infrastructure, the potential use of biofuels for the OQBI vehicle fleet, and the feasibility of blending methanol with vehicle fuel as a future alternative.

The MoU also provides for the exploration of additional initiatives in the fields of alternative energy and sustainability that may be jointly agreed upon by both parties. As part of the cooperation, the companies will undertake technical discussions and commercial evaluations, exchange information within agreed frameworks, conduct joint feasibility studies, and identify opportunities for future pilot projects.

The partnership combines OQBI's industrial capabilities in the production of liquefied petroleum gas (LPG), methanol and ammonia with OOMCO's expertise in the marketing and distribution of fuel products, lubricants and direct fuel sales. The companies said this synergy would support the development of more integrated and sustainable energy solutions.

Tarik Mohammed Al Junaidi, CEO of Oman Oil Marketing Company, said the MoU marks an important step in the company's journey towards supporting future and sustainable energy solutions, while strengthening its role in keeping pace with rapid changes in the energy and mobility sectors.

He added that, through the partnership with OQBI, the company aims to explore practical opportunities in alternative energy, EV charging and cleaner fuel options, contributing to innovation and operational efficiency in line with the objectives of Oman Vision 2040.

Khalid Khalfan Al Asmi, CEO of OQ Base Industries, said the agreement represents a significant step towards strengthening cooperation in alternative and sustainable energy solutions. He noted that the company continues to explore opportunities that support the energy transition and encourage the adoption of more efficient and sustainable solutions.

Al Asmi added that the collaboration would help evaluate practical opportunities that support innovation and enhance the industrial sector's readiness for future requirements, in line with sustainability targets and Oman Vision 2040. He said the initiative also reflects both companies' commitment to promoting innovation and diversification in the energy sector while supporting national sustainability goals.

Muscat Daily