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OQBI: Driving sustainable growth and global impact

OQ Base Industries (OQBI) is a leading regional chemical producer, strategically located in Oman’s Salalah Free Zone. We specialise in the production of LPG products, methanol and ammonia, driving global industry growth and contributing to Oman’s economic and social development. Our commitment to sustainability and operational excellence ensures that we meet the diverse demands of the global market, in alignment with Oman Vision 2040.

OQBI for investors

Attraction of Oman

Attraction of Oman as an investment jurisdiction and strategic location within the Salalah Free Zone.

Robust industry environment

Robust industry environment for methanol, ammonia, and LPG products, with strong demand growth across a broad range of end markets.

Strong operational track record

Strong operational track record enabled by fully integrated, state-of-the-art assets with high reliability.

Long-term gas supply agreements

Long-term gas supply agreements with attractive pricing mechanism.

Attractive geographic location

Attractive geographic location and access to global logistics network, scale and expertise of the OQ Trading platform.

Tangible future growth pathways

Tangible future growth pathways including a brownfield expansion project to increase methanol plant capacity by 50%.

Optimally positioned to capitalise

Optimally positioned to capitalise on the transition to clean methanol and ammonia to serve emerging clean fuels demand.

Attractive dividend capacity

Attractive dividend capacity supported by high margins and strong cashflow generation across commodity cycles.

Global demand: Methanol, ammonia and LPG products

  • Methanol, ammonia and LPG products form a vital component of an integrated value chain serving diverse end markets.

  • Outlook supported by growing demand, expanding MENA exports, and strong market fundamentals. 
  • OQBI’s key export markets driving global demand. 
  • MENA and the Americas are key supply hubs for global methanol, ammonia and LPG products.

Key drivers: Methanol

  • Continued absolute growth into MTO / MTP despite slowdown vs. historical period.

  • GDP-linked traditional chemicals demand.

  • Higher oil and LNG prices supporting methanol break into gasoline blending and other fuel applications.

  • Potential demand upside via marine fuels applications during transition to low-carbon methanol (e-methanol and bio-methanol).

Key drivers: Ammonia

  • Steady demand driven by nitrogen fertiliser consumption, supported by income and population growth and emerging regions.

  • Market forecast to remain finely balanced in the medium-term.

  • Medium-term start-up of new downstream ammonium phosphates capacity will tighten the market.

  • Normalisation of price above historical average, with a fall in gas prices and logistics constraints easing over the last two years.

     

Key drivers: LPG products

  • LPG products are by-products of natural gas and crude oil production, making supply inelastic.

  • Marginal demand from steam crackers switching to LPG feedstock from naphtha, to meet China’s petrochemical demand and energy demand in emerging economies (particularly off-grid regions).

  • Supply additions slowdown post-2030 from gas processing, with loss of refinery LPG product volumes due to lower refinery utilisation and shutdown of less competitive assets.

  • Longer-term pricing supported by rising crude oil prices, driven by more expensive non-OPEC production and higher OPEC market share.

Future opportunity

Methanol and ammonia as marine fuels

  • Key legislations are expected to affect the maritime sector with a focus on emissions reduction.

  • Methanol and ammonia are projected to play key roles in marine fuel demand in the medium-term.

  • Long-term focus will be on lower carbon solutions, presenting an opportunity for traditional methanol and ammonia in the interim.

  • Key players have been ordering methanol vessels in recent years.

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