[11] In 2017, a joint venture between Kuwait Petroleum International and OQ was announced for the development of Duqm Refinery & Petrochemical Complex.

[13] In 2018, Oman Oil Company sold 10% of its 40% stake in the Khazzan gas field to Malaysia's Petronas and signed two concessions/agreements with Occidental Petroleum (Oxy).

[21][22] In January 2020, the State Budget allocated funds to assist OQ Subsidiary, Oman Tank Terminal Company (OTTCO), with the Ras Markaz crude oil storage terminal that would become an international storage hub and strategically locate Oman in the Indian Ocean.

[26] In June 2020, Oxea was fully integrated into a group of eight other companies to create OQ, after the full process had begun in 2018.

[27][28][29] In August 2020, OQ and the Ministry of Heritage and Tourism collaborated to announce the opening of a tourist centre at the archaeological site in the Wilayat of Al Dibba.

[30] The OQ also signed a Memorandum of Cooperation (MoC) with the Minister of Education and Jusoor Foundation to manage and run the Liwa Science and Innovation Center.

[31] In January 2021, Group CEO of OQ, Musub al Mahrouqi submitted his resignation which would be effective as of March that year.

[34] OQ sold its stake in Bina refinery in March 2021, eventually giving its partner Bharat Petroleum Corporation Ltd. (BPCL) full control of BORL.

[35][36] In September 2021, an announcement was made that OQ was considering sale of its German subsidiary, Oxea, a chemicals business, for about $3 billion.

[39] Saudi Basic Industries Corp (SABIC) and OQ signed a Memorandum of Understanding (MoU) to study the possibility of building a petrochemical project in the Duqm Free Zone.

[45] In July 2022, OQ signed an agreement with the Ministry of Higher Education, Research, and Innovation to fund the construction of vocational colleges with an allocation of OMR 200,000.

[46] A contract for the exploration and development of natural gas resources in Block 11 was signed by OQ, Shell and TotalEnergies in September 2022.

[57] OQ provides rigid packing products for food, consumer goods, houseware, electronics and industrial packaging.

[60] OQ's n/iso butyl acetate is used in different applications such as automotive, aerospace, concrete and wood finishes, or as nail polish in cosmetics.