United Arab Emirates: OQT, the international energy and commodity trading vehicle of the Government of Oman, has announced the provision of a medium-term structured finance facility to Maldives’ State Trading Organisation (STO), alongside a mid- to long-term supply arrangement for light and middle distillate products used across transport, power generation, and essential services in the Maldives.

Building on a long-standing commercial relationship between OQT and STO, the announcement reflects OQT’s broader strategy to expand its global trading platform through partnership-led growth, leveraging Oman’s strategic location to connect regional energy supply with fast-growing markets across South Asia and beyond.

The announcement follows the Maldivian Ministry of Finance’s recent visit to Oman in January, underscoring the strengthening economic ties between the two countries.

“We are proud to have reached this agreement with STO, a key and trusted partner of OQT, marking an important step towards strengthening reliable energy access in the Maldives while reinforcing long-standing commercial ties,” said Wail Al Jamali, CEO of OQT. “At OQT, we build partnerships that combine physical product delivery with innovative financial solutions to support our counterparts’ operational needs and enhance regional energy resilience. I would like to extend my most sincere thanks to the STO team for the continued trust shown in OQT’s execution capabilities.”

The facility enables STO to strengthen its procurement strategy while ensuring supply continuity across critical sectors. By pairing structured finance with guaranteed product delivery, OQT is delivering an integrated trading solution that supports national energy priorities and strengthens cross-border trade flows.

Shimad Ibrahim, Managing Director of State Trading Organisation said: “This agreement supports STO’s mission to secure the Maldives’ energy supply over the long term. Partnering with OQT provides the financial flexibility and product security we need to meet national demand, reinforcing a trusted relationship that benefits our people and economy.”