Muscat: Duqm Refinery has reported a year of strong operational and financial performance in its 2025 Sustainability Report, underscoring its commitment to sustainability, operational efficiency, and economic development in the Sultanate of Oman.

According to the report, the refinery continued its transition from operational stability to a phase focused on improvement and value maximisation during 2025. Efforts were concentrated on increasing operational flexibility, improving asset reliability, and achieving higher levels of productivity and efficiency.

A key milestone was the successful implementation of change management processes across several major units, alongside passing lenders’ reliability tests on the first attempt. Operating rates reached 110 per cent, enabling the release of shareholder guarantees worth approximately US$4 billion after all financing requirements were fulfilled and the project met its scheduled completion targets.

The refinery also enhanced its crude oil processing flexibility by introducing 12 new crude oil grades, strengthening its ability to respond to global market dynamics, optimise supply strategies, and improve operational value. Supported by strong operational discipline and favourable market conditions, the refinery maintained stable and efficient performance, reinforcing its reputation as a reliable energy supplier to international markets.

Financially, Duqm Refinery recorded earnings before interest, taxes, depreciation and amortisation (EBITDA) of around RO 106 million in 2025. The achievement follows the implementation of a transformation strategy completed at the end of 2024, reflecting significant improvements in both operational and financial performance.

The report also highlighted the refinery’s growing export footprint. Since export operations began in May 2023, Duqm Refinery has completed 633 export shipments, with total exports exceeding 19 million tonnes of refined petroleum products to markets worldwide.

In addition, the refinery strengthened its logistics and operational capabilities by handling vessels of varying sizes, carrying out efficient petroleum coke loading operations, and expanding its handling capacity through night-time unloading activities at the Ras Markaz terminal.

Commenting on the report, Engineer Abdullah bin Salem Al-Ajmi, Chief Executive Officer of Duqm Refinery, said the company continues to play a key role in supporting local added value and empowering small and medium enterprises (SMEs) as part of Oman’s sustainable economic development agenda.

He noted that total procurement spending during 2025 exceeded US$270.8 million, while spending directed towards SMEs surpassed US$31.2 million, accounting for 12 per cent of total expenditure. This, he said, reflects the refinery’s commitment to creating opportunities for local businesses and enhancing their participation within the supply chain.

The report further highlighted the refinery’s ongoing focus on responsible operations, resource efficiency, environmental stewardship, biodiversity protection, health and safety, talent development, innovation, and digital transformation. These initiatives are aimed at strengthening operational reliability while delivering long-term sustainable impact.

Al-Ajmi emphasised that sustainability remains a core pillar of Duqm Refinery’s strategy, balancing business growth with environmental and social responsibility. He added that the company remains focused on building a more efficient, resilient, and future-ready organisation that supports Oman’s position in the global energy sector while creating lasting value for stakeholders.