The Oman LNG Company (OLNG) recorded net profits of $692 million in 2001, its highest results to date. The company predicts that it will earn $500 million in net profits this year. According to company chairman, Salem bin Mohammed Shaaban, the firms plans to distribute $674 million of its profits to shareholders.
OLNG is a joint venture 51 percent controlled by the government of Oman, 30 percent by the Royal Dutch/Shell Group, 5.5 percent by TotalFinaElf with the remaining shares distributed between Korea LNG, Partex, Mitsui and Itochu. The company’s plant is located in Qalhat in the province of Sur. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
