BP Oman holds first meeting after ownership transfer
BP Oman recently met for its first Annual General Meeting under the new Board of Directors since BP sold its 49 percent stake in BP Oman to the government owned Oman Oil Company (OOC) making BP Oman, the only 100 percent owned oil company.
“The changes in ownership will increase opportunities where BP Oman can operate; offering fewer restrictions in terms of which areas can be targeted for growth. One area where we are continuously seeking to develop is the company's ongoing commitment to Omanization.
This has never been more important than today under the new shareholding, our Omanization rate is already over 70 percent putting us amongst the top companies in the country, ” said Chairman BP Oman and Chief Executive Officer OOC, David Douglas.
BP Oman is the third largest oil marketing company in Oman with 74 retail filling stations. The company distributes petroleum fuel, aviation fuel and lubricants in Oman. It was formed in 1998 after taking over businesses from BP Middle East Limited (BPME) and BP Dhofar. — (menareport.com)
© 2003 Mena Report (www.menareport.com)