Oman’s OQ Base Industries Reports 134% Profit Rise in First 9 Months of 2025
Oman-based OQ Base Industries recorded a strong profit increase of 134%, reaching $84 million (32.33 million Omani rials) in the first nine months of 2025. The company’s profit growth was supported by a 6.7% rise in revenue, which stood at $444 million (170.7 million rials), according to its filing on the Muscat Stock Exchange.
Company Overview
OQ Base Industries is headquartered in Salalah, which is home to Oman’s largest port. The company focuses on three main business areas — methanol, ammonia, and liquefied petroleum gas (LPG).
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Methanol is a cleaner fuel option that can help reduce carbon emissions.
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Ammonia is an important ingredient used in fertilizers and various chemical industries.
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LPG, which includes propane, butane, and cooking gas, is commonly used for heating, cooking, and even as fuel for vehicles.
These three products form the backbone of OQ Base Industries’ operations and help support both Oman’s industrial sector and the global energy market.
Stock Market Debut
OQ Base Industries made its public market debut in December 2024 by listing its shares on the Muscat Stock Exchange. During the initial public offering (IPO), the company sold 49% of its shares, raising over $1 billion (387 million rials).
The IPO was oversubscribed by 2.1 times, which means investor demand was more than double the number of available shares. This strong response showed high confidence from local, regional, and international investors in the company’s strategy and long-term potential.
Production and Exports
The company has a total production capacity of 1.8 million tonnes per year. Of this, methanol accounts for around 1.1 million tonnes of output, according to Reuters.
OQ Base Industries exports all of its methanol and ammonia production and about 87% of its LPG output. Its location in Salalah gives it easy access to major global shipping routes, making it an ideal base for exports to international markets.
Growth Drivers
Several factors have supported OQ Base Industries’ strong financial performance:
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Higher product prices and stable global demand for methanol and ammonia.
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Efficient operations and a strategic focus on exports.
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Government support for energy diversification and industrial growth in Oman.
The company’s ability to maintain steady production and capitalize on international trade opportunities has strengthened its position in the regional energy market.
Outlook
With a growing global focus on low-carbon fuels and clean energy, OQ Base Industries is well-positioned to benefit from the transition toward more sustainable energy sources. Its diversified portfolio and strong export network give it a competitive edge in meeting both domestic and international energy needs.
As OQ Base Industries continues to expand production and improve efficiency, it is expected to play a key role in supporting Oman’s industrial and economic growth while contributing to the country’s broader Vision 2040 goals.
Published: 14th October 2025
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