Oman Oil to sell lubricant oils in Egypt

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Muscat: Oman Oil Marketing Company (OOMCO) recently signed an agreement with Alexandria Company for Petroleum Additives (ACPA) for the production, mixing and packaging of special oils in Egypt.

ACPA will act as a hub to market and sell OOMCO’s lubricant oils in Africa. OOMCO also signed a Memorandum of Understanding with Egypt Petroleum Company for the manufacture and supply of lubricants.

The agreement was signed in the presence of Tarek El-Molla, Egyptian Minister of Petroleum and Mineral Resources, Abdullah bin Nasser Al-Rahbi, the Sultanate’s Ambassador to the Arab Republic of Egypt and Tarik Mohamed Al Junaidi, CEO of OOMCO.

The signing ceremonies took place during the Egypt Petroleum Show (EGYPS) 2023, an annual Petroleum and Energy event held under the auspices of Abdel Fattah El Sisi, President of the Arab Republic of Egypt. OOMCO’s expansion to Egypt will lead to more growth momentum in Africa as Oman’s leading fuel marketing company is planning to maximise opportunities in the rest of the continent, while it already operates in Tanzania.

Tarik Mohamed Al Junaidi, Chief Executive Officer of OOMCO, said, “Top-branded lubes have always been trending products in the oil and gas value chain, which creates room for further growth opportunities. Our latest agreements with the Alexandria Company for Petroleum Additives and Egypt Petroleum Company allow us to further increase our regional market share, while we aim to leverage the strong trade ties between Egypt and Oman as well. Our expansion to other countries further contributes to Oman’s economic growth as we continue to do our part in fueling the development of Oman through our expansion strategy.”

He added, “We participated in the Egypt Petroleum Show to not only promote our high-quality products and services but to also discuss game-changing trends and challenges shaping the future of energy with other global industry leaders. This gathering of policymakers and various stakeholders presented an opportunity to discuss a low-carbon future involving renewables such as green hydrogens and a more sustainable production of oil and gas.”

The agreements, as well as the participation in EGYPS 2023, are further underpinning OOMCO’s commitment to remain a pioneer in the area of fuel marketing. The Omani company is currently selling its high-quality and branded lubricant oils in 17 different Asian, Middle Eastern and Northern African countries. Meanwhile, and as part of its diversified expansion strategy, OOMCO operates service stations in not only Oman but also in the Kingdom of Saudi Arabia and Tanzania.