Oil & Gas Profits at Oman-listed OQBI surged in 2024 By Saleh Al-Shaibany April 2, 2025, 1:45 PM Alamy via Reuters OQBI began trading on the Muscat Security Market in December Oman’s state-controlled OQ Base Industries (OQBI) has reported that net profits for 2024 increased by 38 percent to $81 million, up from $25 million a year earlier. OQBI, which produces methanol, ammonia and liquefied petroleum gas (LPG), is the downstream arm of state-owned OQ. It started trading on the Muscat Security Market (MSM) on December 15 after completing an IPO of $489 million, or 49 percent of shares. The stock has lost 9 percent this year, closing at OR0.103 on the MSM on 27 March. GCC companies to bid for Oman’s power projects Oman’s oil sector received $12bn investment in 2024 UK largest source of FDI in Oman, led by oil and gas The company has a combined capacity of 1.8 million metric tons per annum (mtpa) of production, with methanol accounting for around 1.1 mtpa of the total. OQBI, which exports all of its produced methanol and ammonia and 87 percent of its LPG products, is seeking to exploit Oman’s location near major shipping lines. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
