Dr. Rasheed bin Al Safi Al Haraibi, Chairman of Tender Board, recognized Oman Oil Marketing Company (omanoil) as one of the top performing companies listed on the Muscat Securities Market in 2010 at the recently held Alam al-Iktisaad Wal A’mal Awards. Evaluated based on revenue growth, net profit growth, return on average assets, return on average equity and net profit margin, omanoil ranked third amongst the large market capital category of above 75 thousand Omani Riyals.
The Award was received by Eng. Omar bin Ahmed Qatan, CEO of omanoil, who has been at the helm since 2006 and is accredited for re-engineering the company to its highest levels of operational excellence with robust strategies in place to enhance sustainable growth and deliver better returns in the future. The pioneering fuel and lubricants marketing company achieved historic financial results in 2010 with a 28% increase in total revenues and 6.9 million Omani Riyal net profit. New vistas of opportunities were also capitalized in the aviation and marine bunkering business.
Held for the last three consecutive years, the Awards were ranked by Gulf Baader Capital Markets (GBCM) and audited by KPMG where a total of 15 companies were crowned as Oman’s best performing companies. The event was attended by omanoil’s Board Members, Senior Management and General Managers.