Muscat – In this interview with Muscat Daily, Lamees al Lawati, Chief Financial Officer of Shell Oman Marketing Company, shared her insights on the evolving role of finance in Oman’s rapidly changing business landscape, particularly within the context of the energy sector. She discussed how the finance function is adapting to support strategic decision-making, the impact of emerging technologies like AI on financial leadership, and the importance of aligning financial strategies with long-term growth objectives.

As companies in Oman undergo business transformation, the role of finance becomes increasingly crucial. Do you think the finance function needs to be reshaped to support companies’ business transformation efforts in Oman? What is the role of a CFO and the finance team in this transformation?

Absolutely, the traditional role of number-crunching and reporting is no longer fulfilling. Today, finance teams are expected to be strategic partners, delivering critical insights and driving innovation. While this shift is gaining momentum in Oman, I believe there is still room to fully realise its potential.

At Shell Oman Marketing, while the finance team undertakes important commercial and financial responsibilities, including ensuring compliance with regulatory requirements, there has been a significant shift towards providing independent support for business decision-making and delivering high-quality financial and strategic counsel across diverse disciplines. Finance today has a seat at the table and a voice in every key decision in the company. I like to think of us as balancing players… ensuring we strike the right equilibrium between financial prudence and strategic ambition. It’s a role that demands a blend of technical expertise and commercial insight.

As a CFO, I see myself as a catalyst for responsible growth. I work closely with cross-functional teams to identify opportunities, mitigate risks, and drive informed decision-making. The focus is always on fostering a culture of collaboration, innovation, and accountability. However, transformation is not without its challenges. The volatile business environment demands agility and adaptability. We must be proactive in identifying potential risks and developing contingency plans to stay ahead of the game.

Ultimately, the success of our transformation hinges on our ability to foster a culture of innovation and continuous learning. By empowering our team and embracing new technologies, we can position finance as a strategic asset and drive sustainable growth for our organisation. Personally, I have found this evolution incredibly exciting. The opportunity to contribute to high-level decision-making, to shape the future of the company, is truly inspiring.

How are digitalisation and emerging technologies such as AI impacting your day-to-day role as CFO, and how do you see them shaping the future of financial leadership?

Digitalisation and technologies like AI are transforming the role of CFOs by making processes faster, smarter, and more efficient. AI helps with real-time data analysis, predictive forecasting, and automating routine tasks, freeing up more time to focus on strategy and long-term goals. For instance, AI-powered tools make it easier to spot trends, manage risks, and optimise costs, helping us make better decisions backed by data. It also improves collaboration with teams by providing clearer insights and faster reporting.

As part of the National CEO Programme that I’m currently attending, organised by the Royal Academy and London Business School, we have had excellent content around AI and data analytics in Modules 1 and 2. What stood out to me was how prominently AI is recognised as a critical tool, even in senior leadership development programmes. It was surprising, and inspiring, to see the emphasis on leaders understanding not only the potential of AI but also knowing when and how to apply it effectively. This reinforces the idea that AI is not just a technical asset but a strategic one that leaders must embrace to drive innovation and informed decision-making. Looking ahead, I believe CFOs, like other leaders, will increasingly use these technologies to move beyond traditional activities, focusing on driving innovation and delivering value.

As a CFO in the energy industry, how does your role differ from that of CFOs in other sectors such as banking, insurance, manufacturing, or retail?

While the core financial responsibilities of a CFO remain largely similar across industries, the specific challenges and opportunities can vary significantly by sector.

In the energy industry, CFOs often navigate a unique set of complexities arising from commodity price fluctuations, supply chain dynamics and their impact on working capital, and long-term capital investment cycles. For example, energy companies must manage vast infrastructure assets that demand significant capital expenditure and ongoing maintenance. With the energy transition gaining momentum, CFOs are leading in a transformative period. The shift towards renewable energy sources and low-carbon technologies calls for strategic capital reallocation, innovation in financing models, and adjustments to operational priorities to align with sustainability goals, all while addressing shifting economies and demand patterns.

Furthermore, the energy sector is increasingly exposed to geopolitical risks and climate change-related events, such as extreme weather conditions. These factors can disrupt supply chains, increase operational costs, and create additional layers of complexity. To navigate these challenges, energy CFOs must develop a strong understanding of the evolving energy landscape, including emerging technologies and policy shifts. They need to master financial modelling, risk assessment, and strategic planning to ensure the long-term viability and competitiveness of their organisations.

While the challenges faced by CFOs in different industries may differ, we share a common objective: driving long-term value for our organisations. By collaborating with CFOs from other sectors, we can learn from one another’s experiences, share best practices, and identify collaborative solutions.

How do you ensure that financial strategies are aligned with Shell Oman’s long-term growth objectives, particularly in the context of the energy transition?

At Shell Oman, we align our financial strategies with long-term growth objectives by integrating sustainability and innovation at the core of our decision-making and investment approach. We are committed to proactively investing in renewable energy, low-carbon solutions, and operational efficiencies, positioning ourselves as leaders in the energy transition well ahead of industry trends and regulatory requirements.

A notable example is our early adoption of EV charging points at service stations and the installation of fully solar-powered car shades at our head office parking. We also leverage scenario planning to navigate uncertainties. We incorporate ESG principles to align with stakeholder expectations. Earlier this year, we set an ambitious goal to achieve ESG compliance ahead of the Muscat Stock Exchange’s mandatory timeline. This critical objective has been integrated as a core element of our overall company scorecard, reflecting its significance to our broader strategy. We also strive to maintain financial resilience and adaptability to ensure Shell Oman continues to drive sustainable growth and create value in an evolving energy landscape.

What advice would you give to aspiring CFOs in Oman who are looking to make a significant impact in their organisations?

This is a topic that resonates deeply with me. In my role, I often mentor young finance professionals, with a genuine hope of seeing them grow into the finance leaders of tomorrow. My guidance to them typically centres on four key pillars.

First, it’s crucial to understand the bigger picture. While numbers tell a story, it is understanding the business’s overall dynamics – the people, the market, and the community – that sets transformative decisions apart from merely good ones. Take the time to dive deeply into your industry, build strong relationships across functions, and align your financial strategies with the long-term goals of your company, as well as Oman’s broader economic vision.

Second, lead with integrity, courage, and purpose. Oman’s business environment is changing rapidly, and effective leadership must be both bold and ethical. Don’t shy away from difficult decisions or uncomfortable conversations. Show your team that you can balance accountability with empathy and resilience with transparency.

Third, stay curious and embrace innovation. The financial landscape is evolving quickly, driven by technology, ESG priorities, and new economic challenges. A CFO who remains curious, invests in continuous learning, and champions innovation will always stay ahead. Whether it’s adopting advanced analytics, rethinking capital allocation, or integrating sustainability into your strategy, your ability to adapt will define your legacy.

Finally, remember your responsibilities beyond the role itself. As leaders, it’s important to contribute to the community. Dedicate time to mentoring, sharing your knowledge, and guiding others in their professional growth. By nurturing the next generation of finance professionals, you not only strengthen your organisation but also help elevate the entire business ecosystem.

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