Oman Oil Company and Vitol Group Signs Agreement with Oman Refinery Company

Source: www.gulfoilandgas.com 9/6/2005, Location: Middle East

The agreement was signed at a ceremony held at OOC’s offices by H.E. Maqbool Ali Sultan, Minister of Commerce and Industry and Chairman of Oman Oil Company, H.E. Nasser Al Jashmi, Under Secretary of the Ministry of Oil and Gas and Chairman of ORC, and Mr. Ian Taylor, President and Chief Executive of Vitol Group.

H.E. Maqbool Ali Sultan said: “The signing of the five-year term Off-Take Heads of Agreement illustrates the commitment to capitalize on the opportunities and synergies between Omani and international companies that will further support the Government’s efforts in diversifying the Omani economy.”

“Oman Refinery Company is proud to have concluded this agreement with OOC and Vitol, and looks forward to further enhancing cooperation between the companies.” added H.E. Nasser Al Jashmi, Chairman of Oman Refinery Company.

The agreement marks the achievement of a major milestone in OOC’s and Vitol’s joint effort to establish a trading company that will trade crude oil and related products in the international marketplace. The trading company, majority of which is owned OOC, expects commence trading activities in the beginning of 2006.


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Related Categories: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 

Related Articles: Events  Executive Recruiting  General  Legal  Petroleum Associations  Professional Associations  Sourcing & Procurement 


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