Muscat: OQ Base Industries (OQBi) and Oman Oil Marketing Company (OOMCO) have signed a Memorandum of Understanding (MoU) to establish a framework for joint cooperation. This collaboration aims to explore, evaluate, and develop opportunities related to alternative and sustainable energy solutions.
According to Oman News Agency, this partnership supports transition efforts in the energy sector and enhances sustainability initiatives and operational efficiency in the Sultanate of Oman. The agreed-upon areas of cooperation include studying solar energy solutions, developing infrastructure for electric vehicle (EV) charging, exploring biofuels as an alternative fuel for the OQBi vehicle fleet, and evaluating the blending of methanol with vehicle fuel as a potential future option.
The MoU allows for further discussions on initiatives in alternative energy and sustainability mutually agreed upon by both parties. Under this agreement, OQBi and OOMCO will engage in technical discussions and commercial evaluations, exchange information according to agreed frameworks, and conduct joint feasibility studies. They will also identify opportunities for future pilot projects in alternative energy and sustainability.
This collaboration combines the industrial capabilities of OQ Base Industries, known for producing Liquefied Petroleum Gas (LPG), methanol, and ammonia, with the expertise of Oman Oil Marketing Company in fuel product marketing and distribution. The synergy aims to explore more integrated and sustainable solutions within the energy sector.
Tarik Mohammed Al Junaidi, CEO of Oman Oil Marketing Company, emphasized that the MoU is a significant step toward supporting future and sustainable energy solutions. It enhances the company's role in adapting to rapid changes in the energy and mobility sectors. Through cooperation with OQ Base Industries, OOMCO aims to study practical opportunities in alternative energy, EV charging, and cleaner fuel options, contributing to innovation and operational efficiency in line with Oman Vision 2040.
Eng. Khalid Khalfan Al Asmi, CEO of OQ Base Industries, highlighted that the MoU is crucial for enhancing cooperation in alternative and sustainable energy solutions. He expressed optimism about evaluating practical opportunities that support innovation and align with sustainability targets and Oman Vision 2040. The initiative reflects both companies' commitment to supporting future energy solutions and promoting innovation and diversification in the energy sector, aligning with national sustainability goals.