omanoil holds AGM

The second AGM since OOMCO's (omanoil's) formation in 2003 saw another solid year of performance for the company.

Salim Al Rawas, Chairman of the board of Directors, said: "After transforming all of our fuel retail sites from BP into Oman Oil branded environments, the last year has seen a focus on investment, which will ensure the long term prosperity of the company, the Sultanate and the stakeholders".

During the AGM, shareholders and company officials approved the 2004 chairman's report, and the corporate governance report. 2004 financial statements were approved, and four new members were elected to the board of directors.

"These new directors bring the experience, business-know-how and expertise required to ensure OOMCO remains a successful company not only in the Sultanate, but in the wider region, too," said Al Rawas.

Focusing on its core business, omanoil saw the opening of five new sites in 2004, and the rebuilding of another five.

The board thanked the continuing dedication and hard work of OOMCO's staff, and commented on the on-going efforts to increase Omanisation, which currently stands at 74 per cent within the company.

omanoil also continues to enjoy an exemplary health and safety record, while paying close heed to environmental issues and corporate social responsibility.