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Two key Omani state oil firms have announced a plan to merge their operations, creating a potential behemoth in Oman’s modest oil industry. The firms in question, Oman Oil Company (OOC) and Oman Oil Refineries & Petroleum Industries Company (Orpic), have appointed Musab Abdullah al-Mahruqi as the head honcho tasked with overseeing the merger.
Having worked in various roles in OOC between 2003 and 2010 and as chief executive of Orpic from 2010 to 2016, the new CEO is sure to know the ropes.
The two companies issued a statement this week saying that the government-owned entities will be combined over several phases taking into consideration “the specifics of each business”. Details of the integration will then be worked out and communicated over the coming months. (CONTINUED - 802 WORDS)
DATA INSIDE THIS ARTICLE
|table||OOC/ORPIC Merger - Selected Assets*|