• The first involves storing 10 million barrels of Iraqi oil in Ras Markaz in Duqm.
• The second focuses on marketing Iraqi oil in global markets through OQ Trading.

Muscat, 08 September 2025 – In a milestone for bilateral energy co-operation, OQ, Oman’s global energy investment group, has signed two strategic Memoranda of Understanding (MoUs) through its subsidiaries — the Oman Tank Terminal Company (OTTCO) and OQ Trading — with Iraq’s State Oil Marketing Organization (SOMO), the federal oil marketing arm of the Iraqi Ministry of Oil.