{"id":88563,"date":"2024-12-11T00:00:00","date_gmt":"2024-12-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/oqbi-to-channel-investments-post-ipo-towards-expanding-methanol-business\/"},"modified":"2024-12-11T00:00:00","modified_gmt":"2024-12-11T00:00:00","slug":"oqbi-to-channel-investments-post-ipo-towards-expanding-methanol-business","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/oqbi-to-channel-investments-post-ipo-towards-expanding-methanol-business\/","title":{"rendered":"OQBI to channel investments post-IPO towards expanding methanol business"},"content":{"rendered":"

We have an update on OQBI post-IPO: <\/strong>Oman\u2019s methanol, ammonia, and liquified gas producer OQ Base Industries (OQBI) plans to invest around USD 500 mn to expand its methanol unit, OQBI CEO Khalid Al Asmi told Zawya (watch, runtime: 8:40<\/a>). The plant\u2019s production is set to increase by 550 mn tons with commercial operations slated for 2028. The company also plans to produce blue methanol and green ammonia by 2040.<\/p>\n

REMEMBER- <\/strong>Oman\u2019s OQ raised OMR 188 mn (c.USD 489 mn) in the initial public offering<\/a> of its methanol unit OQ Base Industries this week. The IPO saw a 49% stake sold at the top end of the price range at OMR 0.111 (c.USD 0.29) per share, valuing the firm at USD 1 bn.<\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

About the plant: <\/strong>OQ's Salalah Methanol Company operates a methanol production facility in Salalah, according to its website<\/a>. The 3k MTPD plant, which includes seawater intake, captive power generation, and water desalination, is located adjacent to the new Salalah Ammonia Project, which began construction in 2017 and uses hydrogen-rich purge gas from the methanol plant as feedstock.<\/p>\n

OQ has big green fuel plans: <\/strong>Oman\u2019s state-owned Hydrom signed an agreement<\/a> last year with the Hyport Duqm Consortium \u2014 a JV between OQ Alternative Energy and DEME Concessions \u2014 for the construction of a green hydrogen production facility that will produce about 1 mn tons of green ammonia. OQ Alternative Energy \u2014 the green unit of OQ \u2014 is also among the backers of the Green Energy Oman<\/a> clean fuels hub which will aim for a production capacity of 1.8 mn tons of green hydrogen annually, supplemented by 25 GW of renewables.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company also plans to produce blue methanol and green ammonia by 2040<\/p>\n","protected":false},"author":1,"featured_media":88564,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[152],"tags":[11,151,92,435],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88563","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseclimate","tag-investment-watch","tag-oman","tag-oq","wpautop","entry"],"acf":{"mongo_id":"53e828e7-824e-4836-a739-9f6415f68cab","order":"3","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/343.jpg","photo_position":"above","homepage_title":"","full_issue_title":"OQBI to channel investments post-IPO towards expanding methanol business","related_issue":[88558],"teaser":"The company also plans to produce blue methanol and green ammonia by 2040","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.97af7dca-ceab-46b7-8337-01464f889f75.mp3"},"yoast_head":"\nOQBI to channel investments post-IPO towards expanding methanol business - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/oqbi-to-channel-investments-post-ipo-towards-expanding-methanol-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"OQBI to channel investments post-IPO towards expanding methanol business\" \/>\n<meta property=\"og:description\" content=\"The company also plans to produce blue methanol and green ammonia by 2040\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2024\/12\/11\/oqbi-to-channel-investments-post-ipo-towards-expanding-methanol-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2024-12-11T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/343.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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