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Oman Oil, TFG Marine establish bunker fuel supply joint venture

18 Jan 2025 By OUR CORRESPONDENT

Muscat – Oman Oil Marketing Company (OOMCO) and TFG Marine have established a bunker fuel joint venture to supply vessels visiting Oman’s ports of Duqm, Muscat, and Sohar.

TFG Marine is a leading international marine fuel supply and procurement joint venture between the physical commodity trading company Trafigura Group and the shipowning companies Frontline and Golden Ocean Group.

The new joint venture, TFG-OOMCO LLC, incorporated in Oman, will combine the local knowledge of OOMCO with the international reach, sourcing of all grades of marine fuels, infrastructure, and logistics capabilities of TFG Marine. This partnership aims to offer customers a reliable and transparent bunkering provider in the Arabian Gulf.

In a press statement, Tarik al Junaidi, CEO of Oman Oil Marketing Company, said, “This partnership aligns with OOMCO’s efforts to develop the maritime transport and shipping infrastructure in Oman, in line with the objectives of Oman Vision 2040. It underscores our commitment to meeting the increasing demand for compliant, high-quality marine fuel grades 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 aim to lead towards excellence and sustainability in the bunker fuel business across the Sultanate’s ports.”

Mark Russell, Chief Commercial Officer of TFG Marine, said, “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 strategically located close to the main shipping routes connecting the Arabian Gulf and the Indian subcontinent with the rest of the world.”

The announcement follows the signing of a memorandum of understanding (MoU) between Sohar Port and Freezone and TFG Marine to establish an international bunker fuel supply operation. TFG Marine has already deployed the bunker vessel Margherita Cosulich to the region to supply vessels at Sohar Port.

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