OTI is wholly owned by the Government of Oman, with 70% shareholding by Oman Oil Company (OOC) and 30% by the State General Reserve Fund (SGRF). Initially founded with the aim of trading Omani blend crude and Omani-sourced refined products, OTI enables Oman to trade Omani flows with greater visibility over value, get involved in third-party products and create a global trading entity that better understands the market dynamics as they relate to the country’s oil surpluses and requirements.
Aside from the shareholders’ direct investment into OTI, they are also active investors in the international energy and infrastructure sectors. Thus, OTI has become an integral piece of its shareholders’ investment plans, providing commercial expertise to assess sources of value to potential projects.
Oman Oil Company S.A.O.C. (OOC) is a commercial company wholly owned by the Government of Oman, and was incorporated in 1996 to pursue investment opportunities in the energy sector both inside and outside Oman. Through participation in energy and energy related projects, OOC plays an important role in the Government’s efforts to diversify the Omani economy and to promote Omani and foreign private sector investment.
OOC’s focus within Oman is on the development of oil and gas-based industries and other energy and energy related projects in partnership with international industry players, capturing the value chain in the oil and gas sector. Outside Oman, OOC is actively pursuing commercial ventures in the energy value chain to provide an alternate source of revenue for the Government of Oman.
Established in 1980, the State General Reserve Fund (SGRF) is the sovereign wealth fund of Oman, acting on behalf of the Government in managing and investing the financial surplus achieved by the State from oil and gas revenues. SGRF aims to achieve the best possible returns in the long-term to support the Government’s efforts in diversifying income resources and securing returns for future generations.