OQBI’s HI net profit jumps 86% to RO 43.5 million

MUSCAT, SEPT 22

OQ Base Industries (SFZ) SAOG has reported an audited net profit of RO 43.5 million for the six months ended June 30, 2026, an increase of 86 per cent on the corresponding period of last year.

The result was achieved despite supply chain and logistical constraints and a scheduled maintenance shutdown of the company's LPG plant in January, the MSX-listed producer of methanol, ammonia and LPG said in its audited financial statements filed with the Muscat Stock Exchange (MSX).

"Notwithstanding supply chain and logistical challenges, as well as the scheduled maintenance shutdown of the LPG plant in January, OQBI delivered an exceptional performance during the first half of the year," Chairman Ali al Lawati said in a statement accompanying the results. He attributed the performance to management's strategic execution, operational discipline and the adaptability of the company's business model.

OQBI shares closed at 248 baisas on June 30, 2026. The chairman described the share price performance as evidence of market confidence in the company's governance and financial stewardship.

The company said its strategic focus remains on resilience and operational excellence against a backdrop of geopolitical uncertainty and volatility in global markets. Health, safety, security and environmental performance remains a board-level priority, Al Lawati added.

OQBI is 51 per cent owned by OQ Group and was the fourth OQ subsidiary to list on the MSX, following Abraj Energy Services, OQ Gas Networks and OQ Exploration and Production, as part of the Oman Investment Authority's divestment programme.