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MarketScreener Homepage  >  Equities  >  MUSCAT SECURITIES MARKET  >  OMAN OIL MARKETING    OOMS   OM0000002572

OMAN OIL MARKETING

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Oman Oil Marketing : eyes expansion in Saudi Arabia, Tanzania

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02/11/2019 | 07:39pm EST

OOMCO’s expansion plans include investing in Tanzania’s fuel retail market

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Mubasher:Oman Oil Marketing Company (OOMCO) announced plans to further continue its global expansion in Saudi Arabia and Tanzania.

OOMCO aims to achieve strategic growth by introducing its one-stop-shop service stations internationally, Times of Oman reported.

In 2018, the Muscat Securities Market (MSM)-listed firm opened its first mega station which comprises cafes, rest areas and five-star automated car washes over an area of 40,000 square metres in the Saudi city of Dammam.

The Omani firm targets to have four service stations in Saudi Arabia to be fully operational in 2019, with plans to inaugurate its second site in the kingdom by April, while the other two sites are scheduled to be opened in the second half of this year.

“The service stations in Saudi Arabia will go beyond the needs of consumers. [OOMCO’s] commitment is to always provide the best quality services and goods, while energising customers’ journeys and creating a delightful experience for them to always be their preferred destination,” OOMCO’s CEO David Kalife said.

Additionally, OOMCO’s expansion plans include investing in Tanzania’s fuel retail market, in addition to its shop, food and services market “due to the country’s projected growth in the number of vehicles, positive macroeconomic forecast and political stability as well,” he added.

The Omani firm aims to be one of the top five fuel marketers in the GCC and acquire a 40% stake of the local market by 2025.

Source: Mubasher

(c) All Rights Reserved - Mubasher Info 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Income Statement Evolution
Managers
NameTitle
David M. Kalife Chief Executive Officer
Mulham Basheer Abdullah Al-Jarf Chairman
Amer Suhail Jaboob GM-Operations, Engineering, Logistic & Procurement
Mohammed Humaid Al Yahyai General Manager-Finance
Assilah bint Zaher Al-Harthy Independent Non-Executive Director
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