Muscat – As global energy markets seek safer and more diversified storage and export routes, Oman is emerging as a strategic hub, with several Gulf and other countries exploring the possibility of storing crude oil at the Ras Markaz terminal in Duqm, according to the President of the Oman Investment Authority.

H E Abdulsalam al Murshidi, President of the authority, said the facility is attracting growing regional and international interest due to its strategic location and large storage capacity, reinforcing the sultanate’s rising importance in global energy logistics.

Speaking during a media meeting organised by the authority on Monday, H E Al Murshidi said the Ras Markaz terminal can accommodate crude volumes equivalent to upto one month of Oman’s total oil exports.

The terminal, located near the Port of Duqm on the Arabian Sea coast, is considered one of the region’s major strategic crude storage facilities and has been designed to support both commercial storage and export operations.

He revealed that several countries are studying the possibility of storing oil in Oman and marketing it from the sultanate, highlighting Oman’s growing position as a regional energy, logistics and maritime hub.

The remarks come at a time when energy producers and trading nations are increasingly seeking alternative storage and logistics centres outside traditional Gulf transit chokepoints, further strengthening Duqm’s role as an emerging global energy gateway.

H E Al Murshidi added that the authority is prepared to contribute to financing strategic ventures that support the sultanate’s long-term economic and industrial ambitions.

He also highlighted Oman’s growing technological and industrial capabilities, stating that the sultanate now possesses the expertise to manufacture drones with more than 95% Omani workforce and local content participation, reflecting the rapid advancement of national industries driven by Omani talent.

He also added that “25%-30% of the wheat and grains consumed by GCC countries are purchased from Omani companies trading in grains.”

The comments underline Oman’s strategy to position Duqm as a leading integrated industrial, logistics and energy centre connecting regional and international markets.