Latest news with #SalembinMarhoonalHashmi
Observer
24-05-2025
- Business
- Observer
Ras Markaz terminal exports 17 million tonnes of petroleum products
DUQM: Oman Tank Terminal Company (OTTCO) has exported around 17 million metric tonnes of petroleum products and handled 491 vessels through its Ras Markaz Terminal in the Special Economic Zone at Duqm (SEZD) since its operations began in 2023 up to the end of April 2025. More than 950 million barrels of crude oil have been imported through the terminal, underscoring its growing strategic importance in global energy logistics. Engineer Salem bin Marhoon al Hashmi, CEO of OTTCO, highlighted the Sultanate of Oman's ambition to become a global energy hub, stating that the company's operational success is built on rigorous safety standards and operational excellence. 'Our location provides a direct link to major shipping lanes in the Indian Ocean, opening access to markets across Asia, Africa, and Europe,' he said. The terminal's storage services currently meet local demand, but OTTCO is now focusing on expanding its global storage operations. A key milestone in this direction is a strategic partnership with the Dutch firm Vopak, one of the world's leading storage companies. The agreement aims to transform Duqm into a global storage hub and supports the OQ Group's broader strategy of launching a dedicated company for storing and handling particulates. Al Hashmi added that the partnership with Vopak is also helping OTTCO adopt international best practices, develop Omani talent in the energy logistics sector, and reinforce its sustainability goals. Among the company's clean energy initiatives are projects supporting the storage and handling of green ammonia and hydrogen — in line with growing global demand for low-carbon energy solutions. Engineer Salem bin Marhoon al Hashmi, CEO of OTTCO. 'Preliminary studies have already been completed to lay the groundwork for advanced infrastructure to store, handle, and export green ammonia,' he noted. OTTCO is also working on a shared smart infrastructure for storage services and establishing international partnerships to exchange expertise and accelerate development, in line with Oman's Vision 2040. The Ras Markaz terminal plays a vital role in supplying the Duqm Refinery through an 80-kilometre pipeline that transports crude oil from the terminal. The facility boasts eight large storage tanks, floating platforms for oil imports and exports, a 7-kilometre subsea pipeline, and a pumping station. Control rooms, administrative offices, and safety installations are also housed within the terminal. One of Ras Markaz's defining advantages is its ability to blend different types of crude oil and efficiently handle vessel loading and unloading. Positioned outside the Strait of Hormuz, the terminal offers international companies the flexibility to store crude oil in large volumes for any duration. Spanning 40 square kilometres, it has a projected storage capacity of up to 200 million barrels. — ONA
Muscat Daily
24-05-2025
- Business
- Muscat Daily
Oman's Ras Markaz Terminal exports 17mn tonnes petroleum products
Muscat – Oman Tank Terminal Company (OTTCO) has successfully handled 491 vessels at the Ras Markaz Terminal, located in the Special Economic Zone at Duqm (SEZD), from its launch in 2023 until the end of April 2025. During this period, the terminal imported over 950mn barrels of crude oil and exported approximately 17mn metric tonnes of petroleum products. In a statement to the Oman News Agency, Eng Salem bin Marhoon al Hashmi, CEO of OTTCO, highlighted Oman's growing role as a global energy logistics hub. He said, 'These achievements are the result of the company's commitment to the highest standards of safety and operational excellence, reinforcing its position as a key hub for ensuring energy security for Oman, as well as for regional and international markets.' Hashmi noted that current storage services are meeting the needs of the local market, which has prompted a strategic shift towards expanding global storage operations. He explained that OTTCO has signed a strategic agreement with Royal Vopak, a leading Dutch storage firm, to transform Duqm into a global hub for storage services. This initiative aligns with OQ Group's plans to establish a company specialising in the storage and handling of particulates. 'This partnership enhances our access to global markets, facilitates the localisation of international best practices, boosts the capabilities of Omani professionals in the energy logistics sector, and supports our sustainability goals. It also contributes to the storage and handling of ammonia and green hydrogen, in line with global trends towards clean energy,' he added. Hashmi further emphasised OTTCO's focus on the transition to clean energy, particularly in the storage and export of green ammonia. He stated that several preliminary studies have been completed to support the development of advanced infrastructure for the storage, handling, and export of green ammonia. OTTCO is also working on the development of a shared smart infrastructure for storage services and is establishing international partnerships to facilitate the exchange of expertise and bolster development efforts. These initiatives are in line with Oman's vision of becoming a leading regional centre for clean energy exports. The Ras Markaz Terminal currently supports the Duqm Refinery via an 80km pipeline transporting crude oil from Ras Markaz to the refinery. The oil storage facilities comprise eight large storage tanks, floating platforms for the import and export of oil, a 7km subsea pipeline for oil transfer, and a pumping station to move oil into the tanks. The terminal's advanced technical features allow for the blending of various types of crude oil and enable vessels to be loaded and unloaded in record time. It is designed to store all types of crude oil in significant volumes outside the Strait of Hormuz, offering international companies the option to store their oil at the terminal for flexible durations. Spanning an area of 40 sq km, the terminal has a storage capacity of approximately 200mn barrels of oil.
