Duqm Refinery’s Projected RO 106 Million EBITDA in 2025: What It Means for Investors and Business Growth in Oman
AL DUQM: Duqm Refinery reported a robust operational and financial performance in 2025, achieving earnings before interest, taxes, depreciation, and amortisation (EBITDA) of approximately RO 106 million. This performance reinforces the refinery’s standing as a key energy and industrial project in the region.
The refinery disclosed these results in its 2025 Sustainability Report, which reflects a year focused on operational optimisation, enhanced efficiency, and strengthened business resilience following a transformation strategy implemented at the end of 2024.
In 2025, Duqm Refinery advanced beyond operational stabilisation to prioritise maximising value through increased operational flexibility, improved asset reliability, and higher productivity. A significant achievement was the passing of key operating units’ lenders’ reliability tests on their first attempt, with operating rates reaching 110 percent. This success enabled the release of shareholder guarantees valued at approximately $4 billion, following full compliance with financing requirements and project completion commitments.
The refinery also augmented its market responsiveness by adding 12 new crude oil grades to its processing portfolio. This expansion enhanced supply flexibility, optimised feedstock usage, and boosted overall operational value.
Throughout the year, operational performance remained strong, supported by favourable market conditions, disciplined operations, and enhanced reliability. Since its start of operations in May 2023, Duqm Refinery has exported over 19 million tonnes of refined products, reaching its 633rd shipment and servicing customers in global markets.
The company further enhanced its logistics operations by accommodating vessels of varying sizes, improving petroleum coke loading, and increasing throughput at the Ras Markaz terminal through night-time unloading activities.
Commenting on the refinery’s broader economic impact, Chief Executive Officer Eng Abdullah bin Salim al Ajmi revealed that total procurement spending exceeded $270.8 million in 2025. Expenditure on small and medium enterprises (SMEs) surpassed $31.2 million, accounting for roughly 12 percent of total procurement. He emphasized that supporting SMEs remains a core component of the refinery’s local value creation strategy.
The report also drew attention to ongoing sustainability initiatives focused on resource efficiency, biodiversity conservation, health and safety, environmental performance, workforce development, innovation, and digital transformation. Eng al Ajmi underscored that sustainability is integral to Duqm Refinery’s long-term strategy, enabling it to balance operational growth with environmental and social responsibility, while contributing to Oman’s role as a competitive global energy hub. — ONA
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The robust 2025 performance of Duqm Refinery, with EBITDA hitting RO 106 million and successful operational milestones, signals strong growth potential and increased market resilience for Oman’s energy sector. Businesses should capitalize on the refinery’s expanding procurement and SME support, while entrepreneurs and investors must consider opportunities in supply chain integration, logistics expansion, and sustainability-driven innovation to align with the refinery’s forward-looking strategy.
