Latest news with #OQGroup
Muscat Daily
6 days ago
- Business
- Muscat Daily
Pact to develop wind energy projects in Duqm, Mahout and Sadah
Muscat – OQ Alternative Energy has signed a joint development agreement with Naqaa Sustainable Energy Company to invest in wind energy projects in Duqm in Al Wusta and Mahout and Sadah in Dhofar. The projects are expected to generate up to 1,100 megawatt of electricity using wind turbines manufactured locally by Mawarid Turbine Company. The agreement is part of efforts by OQ Group to support the clean energy transition by developing an integrated value chain and encouraging the growth of national industries. It also aims to support emerging businesses involved in renewable energy, according to an OQ statement. The deal was signed by Said al Masoudi, Chairman of OQ Alternative Energy, and Mustafa bin Mohamed al Hinai, CEO of Naqaa Sustainable Energy Company. The signing took place in the presence of H E Salem bin Nasser al Aufi, Minister of Energy and Minerals. Masoudi said the agreement reflects the government's policy of promoting renewable energy and supporting sustainable development goals. He added that OQ plays a key role as a national investment arm in the energy transition, contributing to electricity grid stability and development of clean energy infrastructure. Hinai said the partnership aligns with national efforts to diversify energy sources and utilise Oman's natural wind resources. In April, OQ Group signed a memorandum of understanding with Mawarid Turbine to establish a manufacturing facility in Special Economic Zone at Duqm. The first phase of the factory will have production capacity of up to 1,000MW a year, with investment exceeding US$200mn. Commercial operations are scheduled to begin in 2026. The plant is expected to be the first of its kind in the region and will support localisation of renewable energy technologies. It is projected to generate more than 1,000 jobs. Mawarid Turbine has partnered with Shanghai Electric Wind Power Group for technology licensing, research and development, and the technical design of manufacturing systems. The collaboration will also provide wind turbines for several pilot farms.
Muscat Daily
09-07-2025
- Automotive
- Muscat Daily
Oman's Al Harthy eyes podium finish in Brazil
Muscat – South America is the destination for Ahmad al Harthy later this week when the FIA World Endurance Championship resumes for round five of the season, the Rolex 6 Hours of Sao Paulo, which will take place on Sunday. Oman's Al Harthy, who has been in tremendous form throughout the 2025 campaign along with Team WRT teammates Valentino Rossi and Kelvin van der Linde, is very much hoping for a boost to the squad's fortunes in Brazil off the back off a frustrating non-finish in the 24 Hours of Le Mans. Well on course to challenge for the LMGT3 class win, a podium at least, during the championship's biggest race of the year just three weeks ago, a luckless electrical issue enforced retirement of the rapid No.46 BMW M4 LMGT3 part way through the twice-round-the-clock French encounter. 'I can't wait to return to Brazil this week for my second attempt at the Rolex 6 Hours of Sao Paulo, we had a great weekend last year and the top five result from 12th on the grid was a satisfying result on my first ever visit to the track,' said Al Harthy 'We're all determined, every single member of the team, to be in a position to challenge for the podium on Sunday and that will be our focus with our preparation. 'Everyone was very disappointed that we had to retire the car at Le Mans, but the strength of the performance we showed before then – the pace, the strategy and our individual performances as well – gave us a lot to take away and be very positive about. We're aiming to put all we learned and that experience into practice and hit back as strongly as we can in Sao Paolo.' Al Harthy, supported by prestigious partners OQ Group, Sohar International, Omantel, Oman LNG, BMW Oman, Oman Ministry of Culture, Sports and Youth and Experience Oman, is hungrier than ever to be back on the FIA WEC podium and will be working as hard as possible to achieve that aim. During last year's visit to Interlagos, the Omani's maiden trip to the Brazilian venue, he and then teammates Rossi and Maxime Martin achieved a strong top five result from 12th on the grid, almost snatching fourth – less than a second shy at the chequered flag after six intense hours of action. As has been a hallmark of Al Harthy's endurance racing career to-date, his opening stint in last year's Rolex 6 Hours of Sao Paulo was immensely impressive. Gaining no fewer than six places during the first hour of action, this set the scene for the pleasing result on his Interlagos debut. His second stint was equally strong with fantastic speed, racecraft and overtaking skills on show for all to witness. This time around, Oman's number one racing driver is hoping for more still as the team strives to begin the second half of the FIA World Endurance Championship season on the front foot, and climb back up the LMGT3 points table. Competition, as always in FIA WEC, will be fierce in Brazilwith 18 cars entered in LMGT3 alone and a combined grid of 36 entries expected including those from the Hypercar class. Going into the event Al Harthy, Rossi and van der Linde are 12th in the LMGT3 driver standings with a season-best finish of second place from round two at Imola in Italy.
Times of Oman
09-07-2025
- Automotive
- Times of Oman
BMW M4 Racer Al Harthy Planning Successful Start To Second Half Of FIA WEC Season In Brazil
South America is the destination for Ahmad Al Harthy this week when the FIA World Endurance Championship resumes for round five of the season, the Rolex 6 Hours of Sao Paulo, which will take place this coming Sunday, 13th July. Oman's Al Harthy, who has been in tremendous form throughout the 2025 campaign along with Team WRT team-mates Valentino Rossi and Kelvin van der Linde, is very much hoping for a boost to the squad's fortunes in Brazil off the back off a frustrating non-finish in the 24 Hours of Le Mans. Well on course to challenge for the LMGT3 class win, a podium at least, during the championship's biggest race of the year just three weeks ago, a luckless electrical issue forced retirement of the rapid No.46 BMW M4 LMGT3 part way through the twice-round-the-clock French encounter. Al Harthy, supported by prestigious partners OQ Group, Sohar International, Omantel, Oman LNG, BMW Oman, Oman Ministry of Culture, Sports and Youth and Experience Oman, is hungrier than ever to be back on the FIA WEC podium and will be working as hard as possible to achieve that aim. During last year's visit to Interlagos, the Omani's maiden trip to the Brazilian venue, he and then team-mates Rossi and Maxime Martin achieved a strong top five result from 12th on the grid, almost snatching fourth – less than a second shy at the chequered flag after six intense hours of action. As has been a hallmark of Al Harthy's endurance racing career to-date, his opening stint in last year's Rolex 6 Hours of Sao Paulo was immensely impressive. Gaining no fewer than six places during the first hour of action, this set the scene for the pleasing result on his Interlagos debut. His second stint was equally strong with fantastic speed, racecraft and overtaking skills on show for all to witness. This time around, Oman's number one racing driver is hoping for more still as the team strives to begin the second half of the FIA World Endurance Championship season on the front foot, and climb back up the LMGT3 points table. Competition, as always in FIA WEC, will be fierce in Brazil with 18 cars entered in LMGT3 alone and a combined grid of 36 entries expected including those from the Hypercar class. Going into the event Al Harthy, Rossi and van der Linde are 12th in the LMGT3 driver standings with a season-best finish of second place from round two at Imola in Italy. Ahmad Al Harthy: 'I can't wait to be back in Brazil this week for my second attempt at the Rolex 6 Hours of Sao Paulo, we had a great weekend last year and the top five result from 12th on the grid was a satisfying result on my first ever visit to the track. We're all determined, every single member of the team, to be in a position to challenge for the podium on Sunday and that will be our focus with our preparation. 'Everyone was obviously very disappointed we had to retire the car at Le Mans, but the strength of the performance we showed before then – the pace, the strategy and our individual performances as well – gave us a lot to take away and be very positive about. We're aiming to put all we learned and that experience into practice and hit back as strongly as we can in Sao Paolo.' The first two free practice sessions at Interlagos will take place on Friday, 11th July, with the third session following on Saturday, 12th July, ahead of LMGT3 qualifying at 14.45 Sao Paolo time. The Hyperpole session is immediately after opening qualifying at 15.05 local time. On Sunday, 13th July, the Rolex 6 Hours of Sao Paolo will get underway at 11.30 local time. 2025 FIA WEC LMGT3 Driver Standings (after Rd4): 1st Riccardo Pera / Ryan Hardwick / Richard Leitz, 81pts 2nd Alessio Rovera / Francois Heriau / Simon Mann, 76pts 3rd Ben Keating / Daniel Juncadella / Jonny Edgar, 60pts 12th Ahmad Al Harthy / Valentino Rossi / Kelvin van der Linde, 21pts 2025 FIA WEC LMGT3 Team Standings (after Rd4): 1st Manthey 1ST Phorm (Porsche 911), 81pts 2nd Vista AF Corse (Ferrari 296), 76pts 3rd TF Sport (Corvette Z06), 60pts 12th Team WRT (BMW M4 LMGT3), 21pts
Zawya
09-07-2025
- Business
- Zawya
Oman to host 2025 MEIRA Annual Conference
Muscat, Oman – The Middle East Investor Relations Association (MEIRA) is pleased to announce that its flagship event, the 2025 MEIRA Annual Conference, will be held on 24-25 September 2025 at the Oman Convention and Exhibition Centre in Muscat. Organised in partnership with the Muscat Stock Exchange (X), with the prominent support of OQ Group as Oman Energy Champion, OQ Exploration and Production (OQEP) as the MEGA Sponsor, and Omantel and Ominvest as Strategic Sponsors, this year's conference is set to be MEIRA's most significant to date. With the theme 'Elevating Impact: The New Era of IR in the Middle East', the 2025 MEIRA Annual Conference will convene over 700 delegates, including over 150 institutional investors and 130 issuers from across the region and beyond. The event will serve as the region's premier platform for investor relations (IR) professionals, regulators, and capital market stakeholders to connect, learn, and lead. "The MEIRA Annual Conference has become a cornerstone event for the regional IR community. This year's edition, held in Oman for the very first time, reflects both the maturing capital market landscape in the Sultanate and the growing relevance of IR across the Middle East. We are proud to work alongside MSX, OQ Group, OQEP, Ominvest, Omantel and our other key sponsors to bring this global-standard platform to life," said Paolo Casamassima, CEO of MEIRA. Spanning two full days, the conference will feature keynote addresses, 10 thematic panel discussions, and over 20 expert-led workshops covering high-impact topics, including IR best practices, the evolution of capital markets, ESG integration, and other relevant areas. Azzan Al Abdullatif, Chief Portfolio Officer at OQ, noted, "OQ Group is honoured to sponsor and support this landmark event. In just the past two years, we successfully launched four IPOs on the Muscat Stock Exchange – an achievement that highlights the strength, depth, and investor confidence in Oman's capital market. The MEIRA Annual Conference offers an ideal platform to reflect on these milestones and share our future plans with the broader investment community. Ahead of the MEIRA Conference and for the first time, we will also be hosting OQ Market Day on 23 September, with the participation of all our listed subsidiaries. It is through transparent, forward-looking dialogue that we continue to build lasting trust with our stakeholders." Jaber Al Noumani, CFO of OQ Exploration and Production (OQEP), stated, "OQEP is proud to be the MEGA Sponsor for the 2025 MEIRA Annual Conference, reflecting our commitment to excellence in investor relations and transparent stakeholder engagement. As Oman's leading exploration and production company, we value open dialogue and meaningful engagement with the investment community. This platform provides an excellent opportunity to connect with regional and international investors while showcasing our alignment with Oman's Vision 2040 and our commitment to sustainable energy development. We look forward to sharing our strategic vision and demonstrating OQEP's dedication to operational excellence, sustainability, and delivering long-term value to our stakeholders." One of the highlights of the 2025 MEIRA Annual Conference will be the Corporate Access programme, delivered in partnership with Arqaam Capital and HSBC. Up to 60 MEIRA member companies will have the opportunity to engage in one-on-one and group meetings with regional and international investors, scheduled after the formal sessions on both days. With Arqaam and HSBC supporting this core feature, the conference promises an unmatched platform for IR professionals to gain insights, build recognition, and foster meaningful investor connections. Complementing the Corporate Access programme is an exclusive exhibition space, offering sponsors and participants high-visibility opportunities to showcase their brands, products, and services to a diverse and influential audience. The exhibition area will also support the overall networking and engagement experience across both days of the conference. For more information or to purchase tickets for the conference, please visit About MEIRA The Middle East Investor Relations Association (MEIRA or 'the Association') is an independent, non-profit organisation dedicated to promoting the Investor Relations (IR) profession and international standards in corporate governance. The mission of MEIRA is to enhance the reputation, efficiency and attractiveness of the Middle East capital markets. This is achieved by fostering increased dialogue among members and encouraging the IR community to share global best practices within the field of IR. In partnership with stock exchanges, regulators and other market participants, MEIRA supports companies through its professional development and certification programmes as well as its membership community and network of country Chapters. Over 200 Corporate Members A network of over 600+ IR & ESG Professionals across the Middle East Website:
Observer
18-06-2025
- Business
- Observer
OQGN awards RO 105m gas pipeline contract
BUSINESS REPORTER MUSCAT, JUNE 18 OQ Gas Networks SAOG (OQGN), the owner and operator of Oman's gas transportation system, has announced the award of a contract worth RO 105 million for the implementation of the Second Loop Line Fahud-Suhar project – a key initiative to boost the country's gas supply network. In a filing to the Omani bourse on Wednesday, June 18, 2025, OQGN – part of OQ Group – said the contract, covering the engineering, procurement and construction (EPC) of the 193km 42-inch pipeline project, was awarded to the Petroleum Projects Company Petrojet and Partners LLC. Also as part of the project execution strategy, a related contract for the supply of 193 kilometers of line pipe was awarded to Jindal Saw Limited. The planned execution duration of the project is 24 months. 'The project aligns with the company's growth strategy and vision in leading the energy infrastructure,' OQGN added.
