December 26, 2024 [Zawya]- Shell Oman Marketing Company is currently engaged in discussions with multiple parties regarding the potential sale of its petroleum products storage and supply facilities in Mina Al Fahal, Muscat.

This move is part of the company’s broader strategy to optimise its asset portfolio and enhance returns for its shareholders, Shell Oman stated in a disclosure to the Muscat Stock Exchange. It further noted that these discussions have reached an advanced stage this week.

‘These fixed assets include various petroleum products storage tanks, a Single Buoy Mooring (SBM), undersea pipelines, above-ground integrated pipelines, an 8-bay gantry, and other associated facilities,’ the company explained in its disclosure.

Shell Oman Marketing Company emphasised that this direction is consistent with the company’s commitment to disciplined capital allocation and long-term value creation.

‘Moreover, it will bolster Shell Oman’s future growth plans, which are centred on energy transition, sustainable development, and the company’s key role in the sector, in alignment with Oman Vision 2040,’ the company added.

Shell Oman confirmed that it would issue further updates as necessary, particularly upon the signing of a binding sales and purchase agreement, or should all discussions be concluded.