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FINANCIAL NEWS
Omanoil revenue up to USD560m in 2010
30 Mar 2011
(MENAFN) Oman Oil Marketing Company (Omanoil)’s chairman, Sheikh Salim bin Abdullah Al Rawas, stated that the company’s 2010 total sales hiked 28 percent to a record USD560 million, up from USD436.1 million in 2009, report Times of Oman.
The chairman also said that the firm’s pretax profits climbed 28 percent to USD20.2 million from USD15.8 million a year before. He pointed out that the expectations of higher oil demand alongside Oman’s economic growth were major reasons behind the company’s results.
Al Rawas added that Omanoil eyes improving its retail plan in 2011 by obtaining the most efficient and upgraded tools and keeping up with the demands of its customer’s.
It is worth noting that the company had a successful fuel supply year in 2010, as the company became a leader in aviation fuel supply at Muscat International Airport after it bagged a two-year aviation fuel supply deal with Oman Air, as the chairman stated.
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