It is believed the global population is growing by over 200,000 people a day, which will ensure an overall population of close to 10 billion by 2050. The projected growth will pose myriad problems, not least how to develop a more sustainable world. 

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A sustainable planet is as far from reality as it ever has been in the modern age. In the autumn of 2022, the Environment Agency at the United Nations said there was 'no credible pathway' to limit any rise in global temperature to 1.5c. As a result, the consequences for the planet will be bleak, with urgent progress needed. 

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A company hoping to act as a catalyst for change are OQ. The business is a global integrated energy company, with its roots in Oman. The company unlocks the potential of hydrocarbons and delivers a wide range of refined, petrochemical products.

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Formed in late 2019, following the successful integration of nine legacy companies, OQ covers the entire value chain in the energy sector and harnesses energy for good, as part of its 'Energy Beyond Limits' core philosophy.

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The company is motivated by a desire to create sustainable value for their business and Oman, with the ability to drive sustainable economic growth in the country's energy value chain - through alternative energy, a stated goal. 

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As a consequence, the business has repositioned itself as an energy transition enabler. As part of the company's new operating model, alternative energy is one of its main business components. It is the cornerstone of OQ's position as a sustainable and integrated energy company, as they look to create solutions through collaboration. 

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“We have reached a critical point in the history of OQ and Oman,” said Talal Al Awfi, the OQ Group CEO. “We aspire to change our course as OQ. Historically, we were a company created to expand and develop the oil & gas sector. Now, we need to switch to being a vital component in creating sustainable value for ourselves and Oman.” 

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A joint venture with DEME and Uniper to develop green hydrogen and green ammonia at the special economic zone in Duqm is one example of the company’s climate conscious projects.

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Another example of how OQ is determined to help Oman grow is its $463 million project that integrated its new ammonia plant with an existing 1 million tonnes per year capacity methanol plant. The new plant is designed to retain the hydrogen-rich purge gas generated by the methanol plant as feedstock for the ammonia plant.

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The company has also established a partnership with Madayn. Together, they have developed the Ladayn Polymer Park on the Sohar Industrial Estate. It will focus on the manufacturing of valuable plastic products for packaging, agriculture, healthcare and hygiene. The Park will also feature a plug and play section that is planned to facilitate easy start ups and will work to attract recyclers, innovators and those who can drive circularity within Oman. 

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OQ is a company that is utilising its considerable experience to meet the challenge of delivering sustainable value and change for not only Oman, but the planet, as the energy transition gathers pace.