Oxea Integrates into Newly Formed Energy Company
MONHEIM AM RHEIN – The chemical company Oxea, part of the Oman Oil Co. & Orpic Group, joins eight other companies in a process to create a new, integrated energy company that will trade under the brand name OQ. OQ aims to become a global leading energy company, capturing and capitalizing on greater participation in the global hydrocarbon value chain.
“During the ongoing integration phase, our current business processes will remain unchanged. Oxea will continue to provide the very reliable and flexible services that customers from across the globe have come to expect from us in recent years,” said Dr. Oliver Borgmeier, COO at Oxea. “In fact, with a focus on oxo derivatives and specialty chemicals, we invest significantly to serve the global markets better. Digitalization and automation present considerable opportunities to enhance efficiency in our plants and to improve our flexibility further to meet changing demand. By 2021, we expect additional production capacity for TCD alcohol to go on-stream that will cover the anticipated global demand for years to come. This highly functional molecule finds uses in optoelectronics, packaging, automotive applications, as well as in specialty adhesives and surface coating systems.”
Also in 2021, Oxea plans to start up its sixth world-scale production plant for carboxylic acids in Oberhausen, Germany. Once brought on-stream, it will increase the company’s total production capacity for carboxylic acids by more than 30%.
To ensure a seamless and robust transformation, OQ launched an integration program to form one company from nine core assets: Orpic, Oman Oil Co., Oman Oil Co. Exploration and Production, Oman Gas Co., Duqm Refinery, Salalah Methanol Co., Oman Trading International, Oxea, and Salalah Liquified Petroleum Gas.
Oxea is a global manufacturer of oxo intermediates and oxo derivatives, such as alcohols, polyols, carboxylic acids, specialty esters and amines.