State-owned Oman Oil (OOC) and Oman Oil Refineries & Petroleum Industries (Orpic) on 17 December launched the “new brand” OQ under which they and their subsidiaries will operate following an integration of the two firms announced in late 2018 and expected to complete in 2020.
The companies formed a joint board to oversee the merger, which is expected to begin with their refining and petrochemicals operations. Oman’s Minister of Oil & Gas Muhammad al-Rumhy says integration will “create significant value for Oman” and provide a “solid platform for our ambitious growth plans” (MEES, 23 November 2018). (CONTINUED - 233 WORDS)
