Oman Oil Marketing Company (OOMCO) on Tuesday announced that it has received a letter of intent from Oman Air to supply jet fuel to the sultanate’s national carrier.

‘As a result of the recently floated aviation jet fuel tender by Oman Air, we are delighted to share that OOMCO has received a letter of intent to supply jet fuel to Oman Air at Muscat International Airport with a volume of 50 per cent commencing March 1, 2021 for a period of two years,’ OOMCO said in a disclosure submitted to the Muscat Securities Market (MSM).

The award of the letter of intent, the oil marketing firm said, implies the trust of Oman Air in OOMCO’s brand which is embedded by strong HSEQ (health, safety, environment and quality) standards and customer centricity.

OOMCO said it is looking forward to work in partnership with Oman Air to support the growth of the aviation industry which will lead into an ultimate prosperity of the sultanate’s economy.

The company on Tuesday also announced to the MSM its audited financial results for the year ended December 31, 2020. OOMCO’s group net profit dropped by 83 per cent to RO957,000 in 2020 compared to RO5.62mn reported in the previous year.

OOMCO’s group revenue fell 24.2 per cent at RO442.39mn for the full year 2020 from RO583.51mn recorded in 2019.