It is believed the global population is growing by over 200,000 people a day, which will ensure an overall population of close to 10 billion by 2050. The projected growth will pose myriad problems, not least how to develop a more sustainable world.
A sustainable planet is as far from reality as it ever has been in the modern age. In the autumn of 2022, the Environment Agency at the United Nations said there was 'no credible pathway' to limit any rise in global temperature to 1.5c. As a result, the consequences for the planet will be bleak, with urgent progress needed.
A company hoping to act as a catalyst for change are OQ. The business is a global integrated energy company, with its roots in Oman. The company unlocks the potential of hydrocarbons and delivers a wide range of refined, petrochemical products.
Formed in late 2019, following the successful integration of nine legacy companies, OQ covers the entire value chain in the energy sector and harnesses energy for good, as part of its 'Energy Beyond Limits' core philosophy.
The company is motivated by a desire to create sustainable value for their business and Oman, with the ability to drive sustainable economic growth in the country's energy value chain - through alternative energy, a stated goal.
As a consequence, the business has repositioned itself as an energy transition enabler. As part of the company's new operating model, alternative energy is one of its main business components. It is the cornerstone of OQ's position as a sustainable and integrated energy company, as they look to create solutions through collaboration.
"Collaboration is the spirit that enables us to support customers and partners to drive progress for the future," said Abdul Rahman Al Tamtami, VP Global Marketing at OQ. "At OQ, we believe that our resources are precious, and their potential is powerful. It is when we harness their potential and respect their capacity to transform our lives, that we are able to make more possible for partners, our customers, and the millions of people across the globe who can live better – one sustainable step at a time."
One such collaboration has seen OQ – in partnership with Madayn – develop the Ladayn Polymer Park on the Sohar Industrial Estate. It will focus on the manufacturing of valuable plastic products that promote a more sustainable world in the areas of responsible packaging, agriculture, healthcare and hygiene.
A plug and play section will also be featured at the park to facilitate easy start ups and the expansion of companies wanting to be close to the source of raw materials and Sohar ports. The park will also aim to attract recyclers, innovators and businesses that will drive circularity in the country's economy.
Solar energy will generate at least 30% of the park’s energy requirements, with the waste generated at the park processed within the industrial zone.
OQ is a company that is utilising its considerable experience to meet the challenge of delivering sustainable value and change for not only Oman, but the planet, as the energy transition gathers pace.