Investors Relations

Asyad Group, in collaboration with OQ Alternative Energy and Sumitomo Corporation Middle East FZE, announced a joint study agreement to explore the potential of establishing Oman as a global leader in low-carbon fuels for bunkering. This visionary initiative represents a pioneering step in promoting sustainable shipping practices to meet global decarbonization goals in the maritime industry and leveraging Oman’s renewable resources on a global scale.

The group has issued a Request For Information (RFI) to the world’s leading shipping companies to drive the adoption of global green logistic solutions in Oman. Additionally, a feasibility study will be conducted to assess key factors including the levelized costs of delivered low-carbon fuels, the infrastructure required to support such operations, and the alignment with global regulatory standards for sustainable fuels.

Early findings suggest that Oman’s unique geographical advantage and superior renewable energy resources could position the country as a frontrunner in providing competitively priced low-carbon fuels to the global shipping industry. The insights derived from the RFI will represent the cornerstone for the study and will be crucial in guiding the development of a world-class low-carbon bunkering infrastructure in Oman, thus making a lasting impact on global maritime practices.

In line with Oman’s Vision 2040 and its sustainable energy strategy, the parties aim to leverage the Sultanate’s abundant renewable resources to offer low-carbon fuels such as e-methanol and ammonia at competitive prices. Current bunkering facilities at the Ports of Salalah and Duqm are earmarked as strategic sites for potential retrofitting to support low-carbon fuel operations. By updating these existing infrastructures and transforming these ports into key nodes on vital global trade routes, Oman aims to become a leader in the global transition to low-carbon shipping fuels and further support the growth of the nation’s bourgeoning logistics sector.

For more information, visit https://www.asyad.om/WorkWithUs/request-for-information