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Oman's OQEP to Offer 25% Stake in IPO Starting End of September

The logo of the Omani company OQ in a gas field in the Sultanate (X)
The logo of the Omani company OQ in a gas field in the Sultanate (X)
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Oman's OQEP to Offer 25% Stake in IPO Starting End of September

The logo of the Omani company OQ in a gas field in the Sultanate (X)
The logo of the Omani company OQ in a gas field in the Sultanate (X)

The Financial Services Authority (FSA) in Oman on Sunday approved the prospectus of OQ Exploration and Production Company (OQEP) for public offering (IPO) starting from 30 September 2024.
The offering, which comprises a total of 2 billion shares, represents 25% of the company's issued share capital.
Given the size and market value of the company, the step constitutes the biggest public offering in the Gulf region, the company said according to Oman's state news agency.
The share price for Omani individuals will be calculated at a rate of 351 baisas per share while institutions may determine their own price range by building an order book (370 to 390 baisas per share).
OQ is a global integrated energy company, with roots in Oman and operations in 17 countries globally.
The company covers the entire value chain from exploration and production of oil and gas, refineries and petrochemicals to marketing and distribution of end-user products reaching more than 80 countries worldwide.
OQ Alternative Energy focuses on investments in renewables and green hydrogen in Oman, according to the company’s website.

 

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South Korea, China, Japan Agree to Promote Regional Trade as Trump Tariffs Loom

South Korea's Trade, Industry and Energy Minister Ahn Duk-geun (C), Japan's Economy, Trade and Industry Minister Yoji Muto (R) and China's Commerce Minister Wang Wentao attend at the 13th Trilateral Economic and Trade Ministers' Meeting in Seoul on March 30, 2025. (Photo by Jung Yeon-je / AFP)
South Korea's Trade, Industry and Energy Minister Ahn Duk-geun (C), Japan's Economy, Trade and Industry Minister Yoji Muto (R) and China's Commerce Minister Wang Wentao attend at the 13th Trilateral Economic and Trade Ministers' Meeting in Seoul on March 30, 2025. (Photo by Jung Yeon-je / AFP)
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South Korea, China, Japan Agree to Promote Regional Trade as Trump Tariffs Loom

South Korea's Trade, Industry and Energy Minister Ahn Duk-geun (C), Japan's Economy, Trade and Industry Minister Yoji Muto (R) and China's Commerce Minister Wang Wentao attend at the 13th Trilateral Economic and Trade Ministers' Meeting in Seoul on March 30, 2025. (Photo by Jung Yeon-je / AFP)
South Korea's Trade, Industry and Energy Minister Ahn Duk-geun (C), Japan's Economy, Trade and Industry Minister Yoji Muto (R) and China's Commerce Minister Wang Wentao attend at the 13th Trilateral Economic and Trade Ministers' Meeting in Seoul on March 30, 2025. (Photo by Jung Yeon-je / AFP)

South Korea, China and Japan held their first economic dialogue in five years on Sunday, seeking to facilitate regional trade as the three Asian export powers brace from US President Donald Trump's tariffs.
The countries' three trade ministers agreed to "closely cooperate for a comprehensive and high-level" talks on a South Korea-Japan-China free trade agreement deal to promote "regional and global trade", according to a statement released after the meeting.
"It is necessary to strengthen the implementation of RCEP, in which all three countries have participated, and to create a framework for expanding trade cooperation among the three countries through Korea-China-Japan FTA negotiations," said South Korean Trade Minister Ahn Duk-geun, referring to the Regional Comprehensive Economic Partnership.

The ministers met ahead of Trump's announcement on Wednesday of more tariffs in what he calls "liberation day", as he upends Washington's trading partnerships, Reuters reported.
Seoul, Beijing and Tokyo are major US major trading partners, although they have been at loggerheads among themselves over issues including territorial disputes and Japan's release of wastewater from the wrecked Fukushima nuclear power plant.
They have not made substantial progress on a trilateral free-trade deal since starting talks in 2012.
RCEP, which went into force in 2022, is a trade framework among 15 Asia-Pacific countries aimed at lowering trade barriers.
Trump announced 25% import tariffs on cars and auto parts last week, a move that may hurt companies, especially Asian automakers, which are among the largest vehicle exporters to the US.
After Mexico, South Korea is the world's largest exporter of vehicles to the United States, followed by Japan, according to data from S&P.
The ministers agreed to hold their next ministerial meeting in Japan.