Oman Oil Marketing Company Launches First ESG Report 2023

Muscat: Oman Oil Marketing Company (OOMCO) has announced the release of its first Environmental, Social, and Governance (ESG) sustainability report, aimed at enhancing transparency and showcasing the company’s commitment to sustainable and responsible practices. The report highlights OOMCO’s role in contributing to the national and developmental goals of the Sultanate.

The report features key initiatives launched by the company, including energy transition efforts, community development, employee welfare, and environmental protection. It also underscores OOMCO’s role in supporting Oman Vision 2040, alongside ongoing efforts to achieve net-zero emissions goals, aligning with the company’s commitment to long-term sustainability.

The statistics showed a significant progress made by OOMCO in reducing carbon emissions over the reporting period, highlights its efforts in renewable energy production and consumption, and demonstrates its dedication to empowering national talent, with OOMCO’s Omanization rate reaching 92%.

Additionally, the report outlines the company’s community projects across various regions in Oman, including training programs for job seekers and support for the entrepreneurship sector.

In 2023, more than 39% of the company’s corporate social responsibility (CSR) budget has been allocated to talent development initiatives, and 34% to supporting small and medium enterprises (SMEs).

Several sustainability and R&D-focused projects were revealed in the ESG report, such as the installation of solar energy systems at 12 fuel stations, which successfully reduced 63% of the energy consumed in 2023.

Tarik bin Mohammed Al Junaidi, CEO of Oman Oil Marketing Company, said: “This report serves as a comprehensive document highlighting the company’s progress and achievements in the fields of environment, society, and governance, reflecting our deep commitment to creating a lasting positive impact on the community.”

“Our commitment to social responsibility has always been at the heart of what we do. We have over the years reduced and continue to reduce our carbon emissions through various initiatives such as Vapour recovery systems and solar powered stations. Our company is committed to creating a healthy working environment by promoting equal opportunities and fostering a culture of respect and fairness for all employees.”

Fatima Al Jardania, Alternative Energy Expert at Oman Oil Marketing Company, commented: “The unique strengths of Oman Oil Marketing Company lie in its transparency, demonstrated through an accessible and comprehensive report that reflects its deep commitment to the environment, society, and governance. Through its positive impact on local communities and environmental protection, OOMCO has become a role model for social responsibility and sustainability in the oil marketing sector.”

It is worth noting that Oman Oil Marketing Company has announced plans to introduce a comprehensive sustainability framework by the end of 2024, which will not only help achieve its internal goals but also support the United Nations’ Sustainable Development Goals (SDGs).