(MENAFN- Muscat Daily) Restating its commitment to explore new market opportunities and to benefit from Asian markets Oman Trading International (OTI) recently inaugurated its representative trading office in Shanghai China the fifth global office of the company. Shanghai is considered a vital market for oil derivatives gas and petrochemicals.
The inauguration was held under the patronage of H E Dr Mohammed al Rumhi Oman's Minister of Oil and Gas.
The opening of the new office comes at a time when the company is looking to take advantage of the Chinese market and when global demand for petrochemicals and oil derivatives is increasing.
The opening was attended by H E Sheikh Abdullah al Saadi Oman's ambassador to China senior officials of Oman Oil Co (OOC) a group of Omani and Chinese businessmen and a number of people interested in the energy sector.
OTI has developed strong trade relations with many global markets and has strengthened its commercial and economic position in the market.
H E Rumhi welcomed the opening of the Shanghai office and hoped that it will help enhance trade and economic relations with China.
On his part H E Saadi appreciated OTI's efforts at opening a branch office in Shanghai and thanked the Chinese government for its cooperation.
Talal bin Hamid al Oufi CEO of OTI said the new office is an indicator of the great strides made by OTI. 'We will take advantage of the company's strong financial position to diversify our investments in the market. We play a major role in the sultanate's efforts in diversifying Oman's economy and creating better opportunities for local and foreign investments.
OTI is 70 per cent owned by OOC with the Vitol Group holding the remaining 30 per cent.
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