BP reaffirms commitment to Oman
BP has reconfirmed the company's ongoing commitment to Oman and its continued support to BP Oman's operations for a transitional period following the purchase of its 49 percent shareholding by Oman Oil Company (OOC.)
BP have operated in Oman since 1957 and floated BP Oman on the Muscat Securities Market in 1998. The company has a retail network of 74 service stations.
“Oman is the only location in the Middle East region where BP has had an interest in filling stations and we felt the operation would be better served by a local shareholder,” said BP Group Vice President responsible for the Middle East and Caspian, Richard Paniguian.
Paniguian advised that BP will however continue and where possible expand its air, lubricants, oil trading and marine bunkering businesses in Oman. As examples he cited BP Marine's contract to supply fuels and lubricants at the fast growing port of Salalah and expected completion of agreements with the new 116,000 barrel per day refinery in Sohar for a 10-year offtake agreement.
Additionally BP Oman has started work on a state-of-the-art filling station at Wadi Al-Bahais, which will feature a solar canopy with power provided by BP Solar. — (menareport.com)
© 2003 Mena Report (www.menareport.com)