Al Maha Petroleum Products Marketing Company, also known as Al Maha, is a petroleum company based in Oman. The company is named for the Arabian Oryx. Al Maha maintains a network of over 200 service stations throughout Oman, including convenience stores and auto services. Al Maha also has commercial and aviation fuel divisions.
History
Al Maha was founded on June 22, 1993 by a Royal Decree from SultanQaboos bin Said Al Said. The companies origins lie within the Oman Refinery Company, of which Al-Maha has been a part of since before 1993. The company was established as a fully government-owned entity. ABS Lubricants Company bought a 35% stake in Al-Maha in 1999, with 65% remaining with the government of the Sultanate of Oman. In 2000, Al Maha started cooperating with GulfCaltex Company to supply aviation fuel for Muscat International Airport. In 2004, Al-Maha Petroleum Products Marketing Company was converted from a limited liability to a general Omani joint-stock company now named Al-Maha Petroleum Products Marketing Company S.A.O.G. In 2013, Al Maha opened an average of one new station every two months, taking the total to 182 by the end of the year. In 2014, Al Maha won a new fuel supply contract for Oman Air's fuel requirements at Muscat airport, valued at around OMR 83 million. In 2017, the company signed two major agreements with Rural Areas Electricity Company and with Oman National Transport Company at OMR 91 million. The contract with Raeco details the delivery of 380 million litres of gas oil over a two-year period, which started on September 1, 2017. The second contract with Mwasalat was for the design, building and operation of a new fuel station at the companies headquarters and the supply of fuel for all buses, starting from May 31, 2017 over a 10 year period. Al Maha was one of two main sponsors for the second World Military Cup for Soccer 2017 which was held in Oman from January 13 to 29. In 2018, Al Maha signed a five-year agreement with Mwasalat to build a solar energy powered and air conditioned bus stop in Muscat. The deal is valued at around OMR 125,000. In the same year, the two companies also signed an agreement for Al Maha to construct a new fuel depot at Mwasalat's headquarters.
Corporate structure
Overview of personnel
The board of directors consists of Chairman Juma Ali Juma Al-Juma, Deputy-Chairman Sheikh Zayed Bin Sultan Bin Kalifa Al Nahyan, and board members Saif Salim Saif Al-Harthi, Gamal Aly Aly Al-Gamal, Saleh Nasser Juma Al-Araimi, Mohammed Ali Said Al-Qassabi and Sultan Khalifa Saleh Al-Tai. The company is led and managed by acting Chief Executive Officer Mohammad Fareed Hussain Al-Darwish.
Shareholders
47.2% Government of the Sultanate of Oman 40.0% ABS Lubricants 12.8% Civil Service Employees Pension Fund
Finance
In 2003, Al Maha was ranked 63 on the Top 100 most profitable Gulf companies at the King Fahd Cultural Center exhibition in Al-Riyadh, Saudi Arabia. In 2005, Oman Economic Magazine placed the company 5th among the 20 most profitable companies in Oman, and in 2007, Al Maha was ranked 6th. The Oman Economic Review Magazine also placed the company 6th among the most profitable companies in Oman. Al Maha reported a profit, after taxes, of OMR 8.1 million for the 2016 financial year compared to that of OMR 9.2 million recorded for the previous year. In the first quarter of 2017, the company achieved a 20% increase in revenue compared to 2016, totaling OMR 101.06 million.
Operations
Al Maha operates a network of over 200 service stations throughout Oman and is one of the main suppliers for the Oman Petroleum Development Company. It also supplies fuels and other additives to the tourism, fishing and transport industry in harbors and ports in Khasab, Diba, Shinas, Qurayyat, Sur Port, Marina Bandar Al-Raodhah, Raysoot, Saham and Sohar ports. Al Maha also supplies aviation fuel to Muscat International Airport, cooperating with Gulf Caltex Company. Al Maha employees also regularly attend the Caltex training center for aviation security techniques and procedures in Dubai. The Al Maha service stations network also offers different types of fuel cards.
