Oman Oil Marketing Company (OOMCO) and TFG Marine, the international marine fuel joint venture established by Trafigura, Frontline, and Golden Ocean, have joined forces to create TFG-OOMCO LLC, a new bunkering joint venture. This collaboration aims to provide efficient and reliable bunker fuel supply to vessels at Oman’s key ports, including Duqm, Muscat, and Sohar.
TFG-OOMCO LLC to Enhance Bunkering Services in Omani Ports
The newly formed entity will integrate OOMCO’s deep local expertise with TFG Marine’s global reach and robust capabilities in marine fuel sourcing, infrastructure, and logistics. The partnership is expected to elevate the level of bunkering services in the region, offering high-quality marine fuels and adhering to stringent international health, safety, and environmental standards.
Aligning with Oman Vision 2040
Commenting on the joint venture, Tarik Al Junaidi, CEO of Oman Oil Marketing Company, emphasized its alignment with Oman Vision 2040’s goals of advancing the nation’s maritime infrastructure.
“This partnership aligns with Oman Oil Marketing Company’s efforts to develop the maritime transport and shipping infrastructure in Oman, which is in alignment with the objectives Oman Vision 2040. It underscores our commitment to meeting the increasing demand for compliant, high-quality marine grades of fuel while adhering to the highest international health, safety, and environmental standards. Through our partnership with TFG Marine, the adoption of cutting-edge technologies and the implementation of global best practices in fuel bunkering, we strive to lead towards excellence and sustainability in the bunker fuel business in the Sultanate’s ports.”
Expanding TFG Marine’s Global Presence
Mark Russell, Chief Commercial Officer of TFG Marine, highlighted the strategic importance of this initiative as TFG Marine’s first venture in the Middle East:
“This is TFG Marine’s first venture in the Middle East, and we look forward to serving our customers in this region. Oman has a rich history as a maritime nation and is well located close to the main shipping routes connecting the Arabian Gulf and the Indian subcontinent with the rest of the world.”
Advanced Bunkering Operations in SOHAR
TFG Marine has already deployed the bunker vessel Margherita Cosulich in the region to serve SOHAR’s deep-sea port. The vessel, equipped with a Mass Flow Meter (MFM) calibrated to the ISO 22192 international standard, reflects TFG Marine’s commitment to transparency, efficiency, and digitalization in bunkering operations.
This move follows the signing of a Memorandum of Understanding (MOU) between SOHAR Port and Freezone and TFG Marine, further cementing their collaboration to establish a robust international bunker fuel supply network.
Driving Sustainability and Decarbonization
Both OOMCO and TFG Marine are aligned in their commitment to advancing the decarbonization goals of the shipping industry. TFG Marine has been a strong proponent of the global adoption of calibrated MFMs, which enhance operational transparency and promote digitalization.
About Oman Oil Marketing Company
Oman Oil Marketing Company (OOMCO) operates one of the largest networks of service stations in the Sultanate, with a total of 236 stations in the Sultanate, along with a host of complementary services that go far beyond fuelling your vehicle. With 100 percent Omani ownership, OOMCO stands out in the fuel sector, as 49 percent of its shares are owned by OQ, Oman’s government-owned integrated energy group, while the remaining shares are held by government authorities, pension funds, shareholders, and individuals.
Oman Oil Marketing Company (OOMCO) is continuing to expand its global footprint with operations in Saudi Arabia and Tanzania embarking on a journey to achieve strategic growth. OOMCO is a market leader with a market share of over 40 percent in Oman’s domestic fuel business. OOMCO’s operations involve: Retail fuels (B2C), Commercial fuels: direct sales (B2B); Lubricants, Shop and food services, Aviation fuels, Storage and distribution, Marine fuels.
About TFG Marine
TFG Marine is a leading international marine fuel supply and procurement joint venture between physical commodity trading company Trafigura Group Pte and shipowning companies Frontline Ltd and Golden Ocean Group Ltd. Formed in 2020, the company provides modern, simplified and transparent services that bridge every stage of the bunkering process for its customers, supplying over 10 million metric tonnes of marine fuels per annum across 35 strategic bunkering hub locations globally.
A recent whitepaper sponsored by TFG and other key stakeholders recognises the success of Singapore’s MFM-based bunker licensing system and proposes this as a template for regulators in other regions across the world, promoting transparency and encouraging digitalisation in the long-term interests of the bunker industry and helping to further the decarbonisation goals of the shipping industry.
By leveraging this partnership, TFG-OOMCO LLC aims to redefine the standards of bunkering in the Arabian Gulf while fostering sustainability and operational excellence in the marine fuel sector.
Source TFG Marine