OQ , formerly known as Oman Oil Company , is an energy investment company headquartered in Muscat , Oman . It is a wholly owned subsidiary of the Government of Oman through the Oman Investment Authority.
48-556: OQ is involved in sectors such as infrastructure and transportation for energy, oil refining, petrochemical production, oil marketing, and power generating. It operates in 17 countries. As of June 2023, OQ produces more than 246,000 barrels of oil per day. OQ was founded as the Oman Refinery Company in 1982. In 1996, Oman Oil Company was established by the Government of Oman. A separate company for gas, named Oman Gas Company,
96-463: A US$ 11.6 billion cash deal, including US$ 8.7 billion of its liabilities, and launched SABIC Innovative Plastics. In that year, the company ranked 145 (previous rank: 301) in the Forbes Global 2000 list. As of 2014, SABIC Innovative Plastics is a multibillion-dollar company with operations in more than 25 countries and over 9,500 employees worldwide. In July 2009, SABIC received approval from
144-407: A $ 4 billion loan to invest into various projects over the coming years. In the following year OOC signed a memorandum of understanding with Spain ’s Eni . In 2017, a joint venture between Kuwait Petroleum International and OQ was announced for the development of Duqm Refinery & Petrochemical Complex. In the same year, OQ's subsidiary, Oman Tank Terminal Company (OTTCO), began construction of
192-507: A 33.19% interest. Shell also signed a concession agreement to operate 53.45% of Block 10. In May 2022, Trend Micro and OQ inked a Memorandum of Understanding (MOU), under which Trend Micro would secure OQ's digital infrastructure from cyber threats. In July 2022, OQ signed an agreement with the Ministry of Higher Education, Research, and Innovation to fund the construction of vocational colleges with an allocation of OMR 200,000. A contract for
240-540: A OQ investment. In May 2020, the commissioning phase commenced. Production increases were planned for OQC in Germany for 2021. The OQ announced in May 2020 the intention to add 30% total production for the coming year. In June 2020, Oxea was fully integrated into a group of eight other companies to create OQ, after the full process had begun in 2018. In August 2020, OQ and the Ministry of Heritage and Tourism collaborated to announce
288-510: A chemicals business, for about $ 3 billion. OQ Chemicals has two manufacturing sites in Germany that make a range of oxo intermediates and derivatives. In October 2021, OQ, Marubeni Corporation, Linde, and Dutco decided to explore the possibility of producing green ammonia and green hydrogen in Salalah. In December 2021, Liwa Plastics Industries Complex (LPIC) project in Sohar was inaugurated. The work on
336-462: A crude oil storage terminal near Raz Markaz. In 2018, Oman Oil Company sold 10% of its 40% stake in the Khazzan gas field to Malaysia 's Petronas and signed two concessions/agreements with Occidental Petroleum (Oxy). In November 2018, OOC announced that the company will be merged with refining company Orpic , which had been created in 2011 to operate Oman's downstream assets. The NAKHLA programme
384-458: A medium-high temperature. Use of supercritical water instead of acetic acid as a solvent diminishes environmental impact and offers a cost advantage. However, the scope of such reaction systems is limited by the even more demanding conditions than the industrial process (300–400 °C, >200 bar). As with any large-scale process, many additives have been investigated for potential beneficial effects. Promising results have been reported with
432-402: A methyl group, which have weaker C–H bonds than does the aromatic ring. Many intermediates have been isolated. p -xylene is converted to p -toluic acid , which is less reactive than the p-xylene owing to the influence of the electron-withdrawing carboxylic acid group. Incomplete oxidation produces 4-carboxybenzaldehyde (4-CBA), which is often a problematic impurity. Approximately 5% of
480-610: A private transaction worth $ 69.1 billion. The transaction was completed in June 2020. Expansion operations and investments supposedly amounted to US$ 20 billion in 2007 and US$ 70 billion until 2020. The overall total production in 1985 was 6.3 million metric tons; by the end of 2008 it had reached 56 million metric tons. SABIC supposedly can produce over 135 million metric tons per year. Net profits of SABIC in 2008 touched ر.س 22 billion ( US$ 5.86 billion), while total assets stood at ر.س 272 billion ( US$ 72.5 billion) at
528-543: A regenerative source of free radicals . Acetic acid is the solvent and compressed air serves as the oxidant. The combination of bromine and acetic acid is highly corrosive , requiring specialized reactors, such as those lined with titanium . A mixture of p -xylene , acetic acid , the catalyst system, and compressed air is fed to a reactor. The oxidation of p -xylene proceeds by a free radical process. Bromine radicals decompose cobalt and manganese hydroperoxides. The resulting oxygen-based radicals abstract hydrogen from
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#1732877027708576-518: A subsidiary of McDermott International ) has reported a route from the dinitrile, which can be obtained by ammoxidation of p -xylene. Virtually the entire world's supply of terephthalic acid and dimethyl terephthalate are consumed as precursors to polyethylene terephthalate (PET). World production in 1970 was around 1.75 million tonnes. By 2006, global purified terephthalic acid (PTA) demand had exceeded 30 million tonnes. A smaller, but nevertheless significant, demand for terephthalic acid exists in
624-405: Is a commodity chemical , used principally as a precursor to the polyester PET , used to make clothing and plastic bottles . Several million tons are produced annually. The common name is derived from the turpentine -producing tree Pistacia terebinthus and phthalic acid . Terephthalic acid is also used in the production of PBT plastic (polybutylene terephthalate) . Terephthalic acid
672-509: Is a Saudi chemical manufacturing company. 70% of SABIC's shares are owned by Saudi Aramco . It is active in petrochemicals, chemicals, industrial polymers and fertilizers. It is the second largest public company in the Middle East and Saudi Arabia as listed in Tadawul . In 2017, SABIC was ranked fourth in the world among chemical companies by Fortune Global 500 . By the end of 2018 SABIC
720-456: Is active in research and development (R&D) of different products. OQ is utilizing its research to develop infrastructure in sectors such as geosynthetics, pipes system, tanks and fittings. OQ provides carboxylic acids, polyols, synthetic polyol ester base oils, and amines. OQ's n/iso butyl acetate is used in different applications such as automotive, aerospace, concrete and wood finishes, or as nail polish in cosmetics. Another product, TMP,
768-460: Is also enhanced in the CO 2 environment. Because more oxygen is available to the system, supercritical carbon dioxide ( T c = 31 °C) has more complete oxidation with fewer byproducts, lower carbon monoxide production, less decarboxylation and higher purity than the commercial process. In supercritical water medium, the oxidation can be effectively catalyzed by MnBr 2 with pure O 2 in
816-423: Is also the so-called " Henkel process" or "Raecke process", named after the company and patent holder, respectively. This route involves the transfer of carboxylate groups. Either potassium benzoate disproportionates to potassium terephthalate and benzene or potassium phthalate rearranges to the terephthalate. Phthalic anhydride can be used as a raw material and then potassium can be recycled. Lummus (now
864-399: Is biodegraded to protocatechuic acid , a common natural product, via a reaction pathway initiated by terephthalate 1,2-dioxygenase . Combined with the previously known PETase and MHETase , a full pathway for PET plastic degradation can be engineered. SABIC Saudi Basic Industries Corporation ( Arabic : الشركة السعودية للصناعات الأساسية ), known as SABIC ( Arabic : سابك ),
912-434: Is used for alkyd and polyester coatings resins and for UV curable alkyd resins, while NPG is used in the production of powder coatings for architectural, automotive, appliances, lawn and garden equipment. OQ produces biocidal alcohols which are used in hand sanitizers and as a specialty amines. Terephthalic acid Terephthalic acid is an organic compound with formula C 6 H 4 (CO 2 H) 2 . This white solid
960-555: The 11th-largest petrochemicals company in the world. The purchase of DSM signified SABIC's intent to expand and become a true global company. In 2004, the value of SABIC shares, listed on the Saudi Stock Exchange (Tadawul), increased 170% while its net profits increased by 112% from 2003 to 2004. In 2005, SABIC was the Middle East's largest (in terms of market capitalization) and most profitable publicly listed non-oil company,
1008-581: The 13th-largest company in the world in terms of market capitalization (at the beginning of 2005 it exceeded ر.س 375 billion, the equivalent of US$ 100 billion) and the second-largest by market value outside the US and UK. In June 2006, SABIC established the "SABIC Sukuk Company" to issue Islamic bonds ( Sukuk ) that are estimated to range between ر.س 1 billion ( US$ 266.67 million) and ر.س 3 billion ( US$ 800 million). In January 2007, SABIC Europe took over Huntsman Corporation plants in
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#17328770277081056-749: The Al-Jubail Industrial City on the coast of the Persian Gulf. Two are located in Yanbu Industrial City on the Red Sea and one is in the eastern city of Dammam . SABIC is also partners in three regional ventures based in Bahrain . SABIC is a market leader in key products such as ethylene, ethylene glycol, methanol, MTBE and polyethylene. SABIC underwent a business restructuring in October 2015, that saw
1104-676: The Chemicals SBU. In July 2002, SABIC commenced operations in Europe after the $ 2 billion acquisition of the petrochemicals business of Dutch group DSM . SABIC Europe, SABIC's European subsidiary, produces over 2 million tonnes of polymers and over 5 million tonnes of basic chemicals. It employs over 3,000 people and has two major manufacturing locations in Geleen in the Netherlands and Gelsenkirchen in Germany. After forming SABIC Europe, SABIC became
1152-620: The Chinese government to build a US$ 3 billion petrochemical complex in China, in order to gain a foothold in the world's fastest-growing chemicals market. In January 2018, SABIC announced that it had acquired a 24.99% stake in Clariant , the Swiss specialty chemical manufacturer. The stake was acquired from activist investor White Tale , and at Clariant's prevailing market-capitalisation would have been valued in
1200-607: The OOC, which has an international investment unit. These include: Feed, food and agriculture division, covers areas such as animal nutrition , crop protection , herbicide , pesticide and its handling, and human nutrition . OQ provides flexible packaging for transportation, retail spaces, and for consumers' cupboards. Some other consumer-facing industry sectors, include cosmetics, electronics, pharmaceuticals, and sporting goods. OQ provides rigid packing products for food, consumer goods, houseware, electronics and industrial packaging. OQ
1248-649: The UK. Headquartered in Sittard, Netherlands, SABIC Europe has a European wide network of sales offices and logistic hubs, as well as three petrochemical production sites in Europe: Geleen (Netherlands), Teesside (United Kingdom), and Gelsenkirchen (Germany). In 2008, SABIC Europe produced 7.3 million metric tons of petrochemicals, mainly for the European market. On May 21, 2007, SABIC acquired General Electric 's Plastics division, in
1296-734: The absorption of the commodity chemicals produced under the Innovative Plastics SBU into the Chemicals and Polymers SBUs. Along with this, the Specialties SBU was created to house the remainder of the Innovative Plastics products that did not fall under the commodity umbrella and the Innovative Plastics SBU would cease to exist by January 1, 2016. This change follows the reallocation of the Performance Chemicals portfolio into
1344-493: The acetic acid solvent is lost by decomposition or "burning". Product loss by decarboxylation to benzoic acid is common. The high temperature diminishes oxygen solubility in an already oxygen-starved system. Pure oxygen cannot be used in the traditional system due to hazards of flammable organic–O 2 mixtures. Atmospheric air can be used in its place, but once reacted needs to be purified of toxins and ozone depleters such as methylbromide before being released. Additionally,
1392-979: The company was Ghazi Abdul Rahman Al Gosaibi , the Minister of Industry and Electricity, and the first CEO was Abdulaziz bin Abdullah Al Zamil . SABIC's founding transformed the small fishing villages of Jubail on the Persian Gulf and Yanbu on the Red Sea into modern industrial cities. Production in 1985 was 6.5 million tonnes; five years later production rose to 13 million tonnes and by 2003 production had risen to 42 million tonnes and by 2012 to over 60 million tonnes. SABIC employs more than 40,000 people globally and has 60 manufacturing and compounding plants in over 40 countries. SABIC's manufacturing network in Saudi Arabia consists of 18 affiliates. Most of these are based in
1440-643: The construction of the renewable energy and downstream sites required for green hydrogen production and green ammonia plants. In August 2023, OQ signed LNG supply agreements with Shell . OQ is expected to supply 0.8 million tonnes per year of LNG to Shell for 10 years from 2025 and 0.75 million tonnes per year for 4 years from 2026. The OQ is invested into different main sectors through its network of subsidiaries. These include petrochemicals , refining and marketing, metal and mining and services. OQ Company runs operations via four main subsidiaries: The companies international assets are under direct control of
1488-438: The corrosive nature of bromides at high temperatures requires the reaction be run in expensive titanium reactors. The use of carbon dioxide overcomes many of the problems with the original industrial process. Because CO 2 is a better flame inhibitor than N 2 , a CO 2 environment allows for the use of pure oxygen directly, instead of air, with reduced flammability hazards. The solubility of molecular oxygen in solution
OQ (company) - Misplaced Pages Continue
1536-418: The end of 2008 and the value of current assets at the end of 2008 stood at ر.س 95 billion ( US$ 25 billion). The Fortune 500 ranking set SABIC revenues as of $ 40.2 billion. SABIC reported preliminary consolidated financial results for the period ended September 30, 2010. Net income for the third quarter of 2010 was ر.س 5.33 billion, compared to net income of ر.س 3.65 billion in
1584-524: The exploration and development of natural gas resources in Block 11 was signed by OQ, Shell and TotalEnergies in September 2022. Shell has a 67.5% stake, OQ 10% and TotalEnergies 22.5%. The companies have previously signed a similar agreement for neighbouring Block 10. In June 2023, OQ signed an agreement with DEME and Hydrom for the project development of Hyport Duqm for the engineering of 150 square metres and
1632-496: The following. Terephthalic acid can also be made from toluene by the Gattermann-Koch reaction , which gives 4-methylbenzaldehyde . Oxidation of the latter gives terephthalic acid. Terephthalic acid can be prepared in the laboratory by oxidizing many para -disubstituted derivatives of benzene , including caraway oil or a mixture of cymene and cuminol with chromic acid . Although not commercially significant, there
1680-600: The need to isolate intermediates and still using air as the oxidant. Amoco (as Standard Oil of Indiana) purchased the Mid-Century/ICI technology, and the process is now known by their name. In the Amoco process, which is widely adopted worldwide, terephthalic acid is produced by catalytic oxidation of p -xylene : The process uses a cobalt – manganese – bromide catalyst . The bromide source can be sodium bromide , hydrogen bromide or tetrabromoethane . Bromine functions as
1728-577: The opening of a tourist centre at the archaeological site in the Wilayat of Al Dibba. The OQ also signed a Memorandum of Cooperation (MoC) with the Minister of Education and Jusoor Foundation to manage and run the Liwa Science and Innovation Center. In January 2021, Group CEO of OQ, Musub al Mahrouqi submitted his resignation which would be effective as of March that year. In response, the Board of Directors appointed
1776-549: The position of GCEO to Talal bin Hamid al Awfi to take over the responsibilities starting immediately. Head of Procurement at OQ is Ahmed Al Azkawi. OQ sold its stake in Bina refinery in March 2021, eventually giving its partner Bharat Petroleum Corporation Ltd. (BPCL) full control of BORL . In September 2021, an announcement was made that OQ was considering sale of its German subsidiary, Oxea,
1824-485: The production of polybutylene terephthalate and several other engineering polymers . Terephthalic acid is poorly soluble in water and alcohols; consequently, until about 1970 terephthalic acid was purified as its dimethyl ester . It sublimes when heated. Terephthalic acid and its dimethyl ester have very low toxicity , with LD 50 >1 g/kg (oral, mouse). In Comamonas thiooxydans strain E6, terephthalic acid
1872-682: The project started in May 2020. With two polyethylene facilities, it has the capacity to produce 880,000 tonnes of linear low-density polyethylene (LLDPE) and high-density polyethylene (HDPE) annually. Saudi Basic Industries Corp (SABIC) and OQ signed a Memorandum of Understanding (MoU) to study the possibility of building a petrochemical project in the Duqm Free Zone. OQ and TotalEnergies formed Marsa LNG, an integrated energy company, in December 2021, which began producing LNG from Block 10 in January 2023 with
1920-599: The region of $ 2.4bn. The actual transaction price was undisclosed. SABIC CEO Yousef Al-Benyan had previously stated, in November 2017, that the company was looking to spend $ 3bn-$ 10bn on acquisitions over the next 10 years. On March 27, 2019, SABIC announced that state-owned energy company Saudi Aramco signed a share purchase agreement to acquire a 70% majority stake in SABIC from the Public Investment Fund of Saudi Arabia in
1968-596: The same year, Oman Oil Company signed a joint-venture with JBF Industries to erect a Terephthalic acid -PTA plant. Following the initial phase of integration, Orpic was founded in 2011. In 2013, OQ acquired a German-based company, OXEA. OOC signed an exploration and production agreement with BP in 2013, to further develop the Khazzan-Makarem gas field . In 2014, construction of the Sohar Refinery Improvement Project started. In 2016, OOC secured
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2016-511: The way for further oxidation to monomethyl terephthalate. In the Dynamit−Nobel process these two oxidations and the esterification were performed in a single reactor. The reaction conditions also lead to a second esterification, producing dimethyl terephthalate , which could be hydrolysed to terepthalic acid. In 1955, Mid-Century Corporation and ICI announced the bromide- catalysed oxidation of p -toluic acid directly to terephthalic acid, without
2064-608: The world's 11th-largest petrochemical company, ranked 331 on the Fortune Global 500 for 2005, the second-largest producer of ethylene glycol and methanol in the world, the third-largest producer of polyethylene and overall the fourth-largest producer of polypropylene and polyolefin . Standard & Poor's and Fitch Ratings claimed SABIC to be the world's largest producer of polymers and the Persian Gulf region's largest steel producer for 2005; they assigned SABIC an "A" corporate credit rating . That same year, Bloomberg ranked SABIC as
2112-584: Was established in 2000. In 2003, Oman Oil Marketing Company (Oman Oil) was founded. Oman Trading International, a trading division, was established in 2006. Oman Refineries and Petrochemicals Co. was created in 2007 with the merger of Oman Refinery Company and Sohar Refinery Company. In 2009, Oman Oil Company Exploration & Production was founded. In 2010, the Programme Apple was initiated which aimed to integrate Oman Refineries and Petrochemicals Company, Oman Polypropylene Co., and Aromatics Oman Ltd. In
2160-490: Was first isolated (from turpentine) by the French chemist Amédée Cailliot (1805–1884) in 1846. Terephthalic acid became industrially important after World War II . Terephthalic acid was produced by oxidation of p -xylene with 30-40% nitric acid . Air oxidation of p -xylene gives p -toluic acid , which resists further air-oxidation. Esterification of p -toluic acid to methyl p-toluate (CH 3 C 6 H 4 CO 2 CH 3 ) opens
2208-696: Was incorporated into the OQ brand and was renamed OQ Gas Networks (OQGN). In January 2020, the State Budget allocated funds to assist OQ Subsidiary, Oman Tank Terminal Company (OTTCO), with the Ras Markaz crude oil storage terminal that would become an international storage hub and strategically locate Oman in the Indian Ocean . Funds were also placed from the budget into the Liwa Plastic Industries Complex,
2256-601: Was initiated in 2018. The construction of the Duqm Refinery began the same year, as did the groundwork for the Salalah LPG and Salalah Ammonia Projects. Orpic Group merged with Oman Oil Company in 2019, and the combined business was given the moniker OQ. Some people believe that OQ is an acronym for "Oman Qaboos" and some believe it is acronym for "Oman" & "Quality", however one cannot find any details about initials "OQ" from their official website. In 2019, Oman Gas Company
2304-431: Was the world's 281st-largest corporation. In 2014, the company had sales revenues of $ 50.4 billion, profits of $ 6.7 billion and assets standing at $ 90.4 billion. It also has been recognized as the world's second most valuable brand in the chemicals industry by Brand Finance in 2021. SABIC was founded in 1976 by royal decree to convert oil by-products into useful chemicals, polymers, and fertilizers. The first chairman of
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