What is Oman Oil Marketing Company's strategy to diversify its revenue streams to reach 40% of local market share by 2025?
Our strategy stands on four main pillars: navigating into near markets, growing through non-fuel revenues, exploring new investments, and optimizing our operations and managing efficiently new business models. We plan to increase our market share through having new customers and service stations and by increasing our sales per customer. Another of our focuses is engaging more with customers by continually studying what our customers need and want. We are initiating a company-wide transformation involving all our departments and using marketing and digital. Another of our initiatives is to grow in logistics through our bunkering business in Duqm, which will be essential for our expansion plans in other countries. Another key focus is on human capital. In 2018, we aim to develop and train more people through our OOMCO Academy, where we use coaching as well as internal and external training .
What are your objectives for the next 12 months?
We have a clear 10-year plan, though as we are a publicly listed company we cannot reveal the whole. We will develop across all fields, though our priorities depend on the level of market potential, our strategic vision, and the returns for shareholders. We believe in diversifying our services and exceeding customer expectations while leading the market through introducing new services to transform our service stations to hub of services, so our customers can enjoy a diversified offering. We have development projects both in Oman and other countries like KSA, in fuels and lubricants as well as non-fuel related developments in the field of our Ahlain convenience store, restaurants and various services. We also thrive on improving OOMCO internal processes to generate more cash flows for our shareholders and recruit/train the future Omani leaders through the diversity of our initiatives.