MUSCAT - Dr. Mohammed bin Hamad bin Saif Al Rumhy, Minister of Oil and Gas and Vice Chairman of Oman Oil Company (SAOC), inaugurated the company's first-ever oil filling station at the Ghubra Beach, yesterday.
Omanoil is a new brand that has no history but gives lot of promises; it is Oman's leading and only 100 per cent Omani-owned oil company.
At the inauguration, Oman Oil's Vice Chairman Ahmed Al Wahaibi said: "Changes were necessary as a result of Oman Oil Company buying BP’s shares; the changes came into effect after a thorough and in-depth study of the Omani market. Till date we have been able to provide a new look to five filling stations in the Muscat region and the plan is to complete the work on the rest of the filling stations in Muscat before the end of this year. All filling stations in the Sultanate will be given a new look by the end of 2004."
Omanoil, as the new brand name will be known, will reflect Oman Oil's principal place of activity — the road — whilst the colours have been inspired by Oman's landscape and people. The whole idea is to bring a fresh and vibrant emblem, illustrating Oman Oil's core aspirations: young, modern and Omani.
The acquisition of BP Plc's 49 per cent interest in BP Oman at the end of last year by the government-owned Oman Oil Company (OOC) introduced Oman with the first and only national oil company. OOC, an investment company, is concentrating on developing partnerships with private sector companies to continue with the development of energy related projects and playing a significant role in the Sultanate's efforts to expand the Omani economy. Ventures such as Omanoil will eventually create more jobs for Omanis. The plan to phase out all existing 77 BP service stations is well underway with re-branding of sites within the Muscat region set to be complete by the end of December 2003. Retrofit of the remaining nationwide sites is set to finish by May 31, 2004.
"Oman Oil Company is fully owned by the government and established to participate in diversifying the Sultanate's income resources through investing in local and global projects. After a through study the decision was made to buy the 49 per cent of BP Oman, the company listed on the Muscat Securities Market," said Ahmed Al Wahaibi.
Mike Wilson, managing director of Oman Oil Marketing Company SAOG, said: "We're very fortunate to have a solid platform from which to build our retail brand. This is an exciting time for all of us and we are looking forward to projecting Omanoil to the forefront of oil retailing in the Sultanate."
"Transition periods can be a challenging time for all involved and I would like to extend my gratitude for the perseverance of not only our employees but also our shareholders and customers during this time. We believe our new company has been worth the wait and are now honoured to be able to share it with the general public," Mike added.