OQ SAOC

What OQ SAOC does

OQ SAOC is the national integrated energy group of Oman, wholly owned by the Government of Oman through the Oman Investment Authority. The group operates across the full hydrocarbon value chain — upstream oil and gas exploration and production (averaging 246,000 boe per day in 2023), midstream gas processing and transportation across a 4,000+ km pipeline network, downstream refining (93 million barrels refined in 2025, a record), and petrochemical manufacturing producing polypropylene and polyethylene under the Luban brand at facilities in Sohar, Duqm, Salalah, Sur, and Ibra. Revenue streams include crude and gas sales, refined petroleum products, polymer sales to 80+ countries through 3,000+ commercial partners, alternative energy (wind portfolio exceeding 2,000 MW with 740+ MW under power purchase agreements), and fertilizer production through OMIFCO. Strategic subsidiaries include OQEP, OQ RPI, OQ Gas Networks, OQ Alternative Energy, OQ Base Industries, and OQ Marketing, with joint ventures in Marsa LNG (with TotalEnergies) and OMIFCO.

The company's go-to-market is primarily B2B enterprise field sales for petroleum, petrochemicals, and polymers, supplemented by a domestic retail fuel station network under the Oman Oil brand. Pricing is contract-based and quote-driven, with multi-year offtake terms typical for industrial gas, polymer, and ammonia customers. The distribution model combines direct regional sales offices (Singapore, Shanghai, Istanbul, Mumbai, Spain) with logistics hubs in Malaysia and Belgium and a global channel partner network. Recent strategic actions include the 2024 IPO of OQ Exploration and Production, the 2026 IPO of OMIFCO (the largest subscription in Omani capital market history at 18.0x), a 2026 joint development agreement with Kuwait Petroleum International for a Duqm petrochemical complex, a PTA/PET partnership with MAK Germany, and a ten-year ammonia supply agreement with Deepak India. Marketing emphasizes industry exhibitions (CHINAPLAS, ArabPlast, K Show, Plastivision), technical webinars, and sustainability communications aligned with Oman's Net Zero 2050 target.

For FY 2025 the group reported revenue of USD 41.5 billion, EBITDA of USD 3.5 billion, and net profit of approximately USD 1.7 billion, with total assets exceeding USD 33 billion and investment-grade credit ratings of BBB- from both Fitch and S&P. The business is supported by 45+ nationalities and an 88% Omanisation rate, with 13,000+ registered vendors and a USD 29 billion committed growth project pipeline spanning the Duqm Refinery, Polymer Complex, and ammonia/methanol plants.

Name

OQ SAOC

Legal name

OQ SAOC

Website

https://oq.com

Company type

Private

Founded year

2019

Operating status

Operating

Short description

OQ SAOC is Oman's national integrated energy group, wholly owned by the Government of Oman, operating across upstream exploration, refining, petrochemicals, polymer manufacturing under the Luban brand, gas transportation, and renewable energy, exporting to 80+ countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Muscat

HQ country

Oman

HQ region

Middle East

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Exploration and Production: Upstream oil and gas exploration and production operations. OQ EP averaged 246,000 barrels of oil equivalent per day with total annual production of 89 million boe in 2023. Operations span multiple blocks including Block 65 and Block 10 (Mabrouk field).
2. Refining and Petrochemicals: Downstream refining and petrochemical manufacturing. OQ RPI refined 93 million barrels of crude oil in 2025 and operates polymer complexes producing polypropylene and polyethylene. The refining sector processed 81 million barrels in 2023.
3. Polymer Products: Production and sale of polymer products under the Luban brand including PP and PE grades for packaging, infrastructure, and industrial applications. OQ exports to over 80 countries through 3,000+ commercial partners.
4. Alternative Energy: Renewable energy projects including wind farms (Riyah 1 and 2) and solar power. The renewable portfolio exceeds 2,000 MW with power purchase agreements for over 740 MW.
5. Natural Gas Transportation: OQ operates a gas transportation network extending more than 4,000 kilometres across Oman, providing gas supply services to industrial clients and power plants.
6. Fertilizer Production: Through OMIFCO (Oman India Fertiliser Company), OQ produces ammonia and urea for agricultural markets. OMIFCO listed on Muscat Stock Exchange in July 2026 with market capitalization of approximately OMR 1.04 billion.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

OQ SAOC is Oman’s global integrated energy group operating across the full value chain from upstream oil and gas exploration and production to midstream gas processing and transportation, downstream refining and petrochemical manufacturing, and alternative energy. The company produces and sells refined petroleum products, polypropylene (PP) and polyethylene (PE) polymers under the Luban brand, performance chemicals, ammonia and urea fertilizers through OMIFCO, and renewable power from wind and solar projects.

Differentiator

Problem solved

Functional benefit

Brands

• Luban: Luban is OQ's polymer product brand encompassing polypropylene (PP) and polyethylene (PE) products used in flexible packaging, rigid packaging, infrastructure, and construction applications.

Products and services

• Luban Polypropylene (PP) Polypropylene polymers under the Luban brand covering homopolymer, impact copolymer, and random copolymer grades for flexible packaging, rigid packaging, infrastructure, and industrial applications. Produced at LPIC with annual capacity of 640,000 tonnes and at the Polymer Complex which exceeded 1 million tonnes in 2025.
• Luban Polyethylene (PE) Polyethylene polymers under the Luban brand including HDPE and LLDPE grades for flexible packaging, rigid packaging, rotomoulding (water tanks, industrial containers, outdoor applications with UV resistance), and infrastructure applications. Produced at LPIC with annual capacity of 880,000 tonnes. New grade Luban LL-R3605UV serves rotomoulding applications.
• Refined Petroleum Products Refined petroleum products produced by OQ Refineries and Petroleum Industries (OQ RPI), including fuels and other refinery outputs for domestic and export markets. The refining sector processed 81 million barrels in 2023 and 93 million barrels in 2025.
• Performance Chemicals Performance chemicals offered as part of OQ’s downstream product portfolio for industrial applications.
• Natural Gas Transportation Services Natural gas transportation and supply services through the OQ Gas Networks (OQGN) pipeline system extending more than 4,000 kilometres across Oman, providing gas supply to industrial clients and power plants, including the Duqm power and water desalination plant via Marafiq.
• Ammonia and Urea Fertilizers (OMIFCO) Ammonia and urea fertilizers produced by Oman India Fertiliser Company (OMIFCO) for global agricultural markets, supporting food security applications.
• Wind Power (Riyah 1 and Riyah 2) Renewable wind power generation from the Riyah 1 and Riyah 2 wind projects in Oman, the largest wind farms in the country with 234 MW combined capacity (6.5 MW turbine capacity, 200-meter tip height, 90.2-meter blades), supplying clean electricity to PDO operations and other customers.
• Renewable Energy Power Purchase Agreements Power purchase agreements for renewable energy supply from OQ’s 2,000+ MW renewable portfolio, with 740+ MW of PPAs secured for wind and solar projects supporting corporate and industrial customers’ net zero and energy transition commitments.
• Oman Oil Retail Fuel Retail gasoline and diesel sold through the network of Oman Oil branded fuel stations throughout Oman, serving end consumers directly.
• Luban HP2151T High Fluidity Homopolymer Polypropylene Specialized high fluidity homopolymer polypropylene grade under the Luban brand for the thin-wall packaging industry, produced using licensed Spheripol polymerization technology with documented 15% energy savings and 8% carbon emissions reduction in processing.

Quantifiable outcome

• Luban HP2151T enables 15% energy savings and 8% carbon emissions reduction in processing
• +3 more outcomes

Named customers5 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Oman Investment Authority (OIA)coreOthers · 18 May 2026OQ is wholly owned by the Government of Oman through the Oman Investment Authority. OIA provides governance directives and oversight for enhanced financial and operational performance under Oman Vision 2040.
• Takatuf OmanminorGTM or Marketing Partner · 12 May 2026OQ and OQ Trading signed agreement with Takatuf Oman to provide 100 international scholarships under Oman Scholars programme over five years (20 annually), supporting national talent development.
• Kuwait Petroleum International (KPI)coreStrategic or Co-development Partner · 3 February 2026OQ and KPI signed Project Development Agreement for jointly owned petrochemical complex in Duqm Special Economic Zone. The project advances Oman\'s economic diversification and strengthens regional Gulf cooperation, representing Kuwait\'s downstream growth strategy.
• MAK (Germany)coreStrategic or Co-development Partner · 27 January 2026OQ signed agreement with MAK Germany to develop a PTA and PET production plant in SOHAR Freezone with investment exceeding OMR 192 million and annual capacity of 700,000 tonnes. The project leverages p-Xylene feedstock supplied by OQ, strengthening polymer manufacturing in Oman.
• Deepak (India)coreStrategic or Co-development Partner · 27 January 2026OQ signed agreement with Deepak India for ammonia supply over ten years enabling sodium nitrite and sodium nitrate production facility in Salalah Freezone with investment exceeding OMR 38 million and capacity of 70,000 tonnes per year for pharmaceutical and fertilizer applications.
• SOHAR Port and FreezonecoreStrategic or Co-development Partner · 27 January 2026SOHAR Port and Freezone signed sub-usufruct and lease agreements supporting OQ\'s downstream manufacturing projects, establishing integrated regulatory and operational platform connecting port infrastructure, pipeline networks, and manufacturing facilities.
• Oman Vision 2040coreOthers · 27 January 2026OQ serves as national champion supporting Oman\'s economic diversification and downstream industrialization aligned with Oman Vision 2040 objectives for value creation and industrial transformation.
• TotalEnergiescoreStrategic or Co-development Partner · 25 November 2025TotalEnergies holds 80% interest in Marsa LNG (with OQ holding 20%) developing Oman\'s first LNG bunkering project at Sohar Port. TotalEnergies is also partner in Riyah 1 and 2 wind projects delivering 234 MW of clean power.
• Petroleum Development Oman (PDO)coreStrategic or Co-development Partner · 25 November 2025Riyah 1 and 2 wind farms will supply clean power to PDO\'s operations, supporting PDO\'s target to source 50% of its power needs from renewables by 2030 and achieve net zero emissions by 2050.
• Integrated Gas Company (IGC)coreStrategic or Co-development Partner · 2 November 2025OQ and IGC signed five agreements and memorandum of cooperation for gas sector transformation including Saih Nihayda NGL Extraction Project (48 million cubic meters/day for 20 years), Block 65 gas sales, OMIFCO gas contract renewal (4.3 million cubic meters/day for 10 years), Marsa LNG supply, and Duqm power plant supply.
• Marsa LNGcoreStrategic or Co-development Partner · 2 November 2025Marsa LNG is joint venture between TotalEnergies (80%) and OQEP (20%) developing Oman\'s first LNG bunkering hub at Sohar Port with gas supply of 150 million standard cubic feet per day from Mabrouk field.

Scale indicators27 records

Recent moves10 records

Expansion highlights5 records

Market position

Strengths5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/OQ
• LinkedInlinkedin.com/company/oq

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries8 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OQ SAOC