OMAN:- OQ8, a $9bn joint venture between Oman’s OQ and Kuwait Petroleum International (KPI), announced the dispatch of its 100th export vessel, from its terminal in Duqm. This milestone highlights OQ8's flawless safety record since its commencement in May 2023 and underscores its vital role in enhancing global supply chain resilience, having successfully exported over 4.1 million tons of products to global customers.

Duqm’s location and proximity to key markets along the Indian Ocean has been instrumental in facilitating seamless trade across critical markets, from Brazil to the Gulf of Mexico, East Africa to India, enhancing the Refinery’s value proposition to global partners.

David Bird, CEO of OQ8, emphasised the company’s pivotal role in the global supply chain. "Our 100th shipment reflects our strategic foresight and operational expertise," Bird stated. "Located outside the Strait of Hormuz, our terminal is a vital link in global trade, offering a secure and dependable route for the flow of energy and commodities. This strategic position has been crucial in enabling seamless trade across key markets worldwide, enhancing our proposition to global partners. Our commitment to being a reliable supplier of high-quality products has never been stronger, and this milestone further cements our reputation in the global market."

OQ8 has set new benchmarks in maritime logistics, demonstrating its capability in safely managing the global supply of refined products. The terminal loaded a record-breaking 850,000 barrels of naphtha onto one of the largest vessels it has serviced, an LR2, achieving a loading rate of 47,000 barrels an hour.

The refinery’s adaptability is further highlighted by its ability to handle ships of all sizes, efficiently loading up to 44,000 tons of Petcoke in less than 68 hours. The terminal also smoothly facilitated large LPG shipments, up to 5,500 metric tons, and introduced night-time operations for unloading crude oil at Ras Markaz Terminal – a significant achievement in less than a year of operation.

As OQ8 gears up for its first sulphur shipment, it continues to showcase its commitment to diversifying export products and enhancing its service offerings.

Mubarik AL Naamani, Chief, Finance, Commercial and SCM , shared his insights on the achievement. "This milestone is a testament to the hard work and dedication of our team," AL-Naamani remarked. "It underscores our strategic advantage in Duqm as a crucial logistical hub, meeting the diverse needs of our international clientele and aiding Oman's economic growth. Our consistent delivery of projects and our ability to maintain uninterrupted supply chains, even amid global uncertainties, establish us as a trusted partner in the international market."

OQ8 is seamlessly integrated with a number of OQ Group investment projects, including Oman Tank Terminal Company (OTTCO) and OQ Trading (OQT), as well as Kuwait Petroleum Corporation (KPC). The Ras Markaz Crude Oil Terminal, expertly managed by OTTCO, is a shining example of this integration, as OTTCO provides crude storage tanks from which crude is transported to the refinery via pipelines extending over 80km.

David Bird, added, "The collaboration between OQ8 and our partners OTTCO, OQ Trading, and KPC has been pivotal to our journey and have significantly strengthened our supply chain. Their integral roles underscore our collective commitment to excellence and reliability in the global energy market. We appreciate their dedication and are excited about our continued partnership shaping the energy future."

Following its inauguration on February 7th, OQ8 is operating at capacity delivering 230,000 barrels per day. The Refinery stands out not only for its operational achievements and strategic location but also as one of the world’s youngest and most efficient refineries. OQ8 offers a unique proposition in the market, ensuring an uninterrupted supply of high-quality products. This distinctive approach has positioned OQ8 as a trusted partner in the international supply chain, contributing significantly to the development of Duqm as a major economic zone and attracting global investors and customers.

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