AL DUQM: Duqm Refinery delivered a strong operational and financial performance in 2025, reporting earnings before interest, taxes, depreciation and amortisation (EBITDA) of approximately RO 106 million while further strengthening its position as one of the region’s most significant energy and industrial projects.
The results were disclosed in the refinery’s 2025 Sustainability Report, which highlights a year marked by operational optimisation, increased efficiency and enhanced business resilience following the implementation of a transformation strategy at the end of 2024.
During the year, the refinery moved beyond operational stabilisation and focused on maximising value through greater operational flexibility, improved asset reliability and higher productivity levels. A major milestone was achieved when key operating units successfully passed lenders’ reliability tests on the first attempt, recording operating rates of 110 per cent. This enabled the release of shareholder guarantees worth around $4 billion after all financing requirements and project completion obligations were fulfilled.
The refinery also strengthened its ability to respond to changing market conditions by introducing 12 additional crude oil grades into its processing portfolio. The move enhanced supply flexibility, improved feedstock optimisation and increased overall operational value.
Operational performance remained robust throughout the year, supported by strong market conditions, disciplined operations and improved reliability. Since commencing operations in May 2023, Duqm Refinery has exported more than 19 million tonnes of refined products, reaching its 633rd shipment milestone and serving customers across international markets.
The company further expanded its logistics capabilities by handling vessels of different sizes, improving petroleum coke loading operations and increasing throughput at the Ras Markaz terminal through night-time unloading activities.
Speaking on the refinery’s wider economic impact, Chief Executive Officer Eng Abdullah bin Salim al Ajmi said total procurement spending exceeded $270.8 million in 2025, while spending on small and medium enterprises surpassed $31.2 million, representing around 12 per cent of total procurement expenditure. He noted that supporting SMEs remains a central element of the refinery’s local value creation strategy.
The report also highlighted ongoing sustainability initiatives focused on resource efficiency, biodiversity protection, health, safety and environmental performance, workforce development, innovation and digital transformation. Al Ajmi emphasised that sustainability remains integral to the refinery’s long-term strategy, enabling it to balance operational growth with environmental and social responsibility while contributing to Oman’s position as a competitive global energy hub. — ONA
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