Ethics & Business Integrity

Our Code of Conduct

At OQ we are committed to upholding the highest ethical standards in everything we do. We believe that conducting business ethically is not only the right thing to do, but is essential to maintain stakeholder trust and ensure long-term sustainability.

Our Code of Conduct is aimed at embedding OQ’s core values and principles in our activities, and is designed to ensure personal and business integrity at all levels. It provides guidance to help navigate ethical dilemmas we may encounter in our internal and external engagements, to ensure we responsibly fulfil our obligations. The Code sets out requirements for business conduct and provides the foundation for other policies, procedures and guidelines.

Living by the Code is everyone’s duty. All employees, officers and executive staff at OQ are required to adhere to it. We are also committed to fostering an environment where employees and stakeholders feel comfortable to speak up and report instances of misconduct without fear of retaliation. We have rolled out various whistleblowing reporting channels for this purpose, including tools for anonymous reporting.

The key areas of our Code

Our Code addresses the rules and principles around the following areas:

Integrity
Personal Integrity
Ensuring our personal interests and activities do not conflict with our responsibilities at OQ. Never engaging in fraudulent or unlawful activities or insider trading and ensuring we declare all actual, potential and perceived conflict of interests.
Gifts and Entertainment
Gifts and entertainment from and to third parties are only permitted where they support OQ’s legitimate business interests, are reasonable and appropriate. We must always comply with the OQ gift policy including gift declaration requirements.
Bribery and Corruption
It is strictly forbidden to offer, promise, give, pay, demand, or receive anything of value to influence decisions or secure an improper advantage, including facilitation payments. Stricter rules apply to our transactions with public officials.
Business relations
Business Integrity
Always dealing fairly and lawfully with those we interact with and never engaging in unfair, deceptive or misleading practices.
Company Information
Safeguarding all OQ's non-public information. Maintaining confidentiality of information entrusted to us and being cautious in making statements (including on social media) that may impact OQ's reputation.
Company Assets
Protecting OQ assets and only using them for legitimate business purposes.
Working practices
Health, Safety and Environment
OQ is committed to protecting health and wellbeing, to fostering an incident and injury free workplace and to preserving and protecting our environment for ourselves and our future generations.
Workplace Practices and Human Rights
Respecting the rights and dignity of employees throughout our own operations and those of our business partners, while being mindful and abiding by applicable data protection rules and regulations.
Whistleblowing
We all have an obligation to uphold OQ’s ethical standards. We promote a culture where individuals feel comfortable to speak up without fear of retaliation and expect our stakeholders to promptly report violations, they become aware of.
Important links
OQ Employee
Code of Conduct
Third Party
Code of Conduct

Modern Slavery Statement

At OQ, we are against all forms of modern slavery, which is set out in our OQ Code of Conduct. We recognise that slavery and human trafficking is a real yet hidden issue in our society. We will not tolerate slavery and human trafficking in our business or supply chain. We are committed to acting ethically and with integrity in all our business dealings and relationships.

Our approach to combating modern slavery is to ensure that all of our direct supply chains are free of forced labour. We work closely with our own personnel and direct suppliers to uphold our standards, as set out in our OQ Code of Conduct, to address any inadvertent risks of modern slavery.

OQ provides specialty solutions for consumers across the entire energy value chain. Based in Muscat in the Sultanate of Oman, we have European offices in Germany and the Netherlands, and also in the United States, China and East Asia.

We are also committed to comply with applicable Omani laws and regulations for the upholding of human rights, such as the Basic Statue of the State, the Oman Labour Law and efforts of the Oman Human Rights Commission.

Ethics initiatives

As part of our commitment to promote a culture of integrity and transparency across OQ and to ensure our business dealings are conducted responsibly and ethically, OQ’s Ethics & Business Integrity team carries out regular training, awareness and communication on the Code of Conduct, anti-bribery and corruption, and whistleblowing for employees throughout the year.

Key measures that are currently in place include:

OQ Code of Conduct
Employees are required to read and acknowledge adherence to the Code on joining the company. New joiners attend induction training covering the Code and related topics, with employee reminders on key ethics topics published through digital media platforms during the year.
Third Party Code of Conduct
A Third-Party Code of Conduct is in place, setting out the standards of behavior OQ expects from its business partners. A copy of the Third-Party Code is available on the OQ website and on OQ’s supplier portal (Tawreed) which third parties use in executing business with OQ.
Anti-bribery and Corruption Prevention Policy (ABC policy)
The ABC policy outlines rules to prevent and detect corrupt practices, including obligations to declare conflicts of interest, guidelines and limits on exchange of gifts, hospitality and entertainment and prohibition on bribes and facilitation payments.
Ethics e-learning
Mandatory online training is being rolled out, on the Code of Conduct, anti-bribery and corruption, whistleblowing and related topics for employees.
Ethics Ambassadors
We have a team of Ethics Ambassadors across the various business units and geographical locations, who are the first point of contact to address employee queries on the Code and related topics.
Whistleblowing Reporting Channels
Supported by OQ’s anti-retaliation policy, various whistleblowing reporting channels (email, web, phone, face to face) have been rolled out to facilitate a speak-up culture with tools for anonymous reporting.
Conflicts of Interest and Gift Declaration System
OQ has an online system in place to facilitate employees in disclosing conflicts of interest, and reporting the exchanges of gifts, hospitality and entertainment with third parties in line with the ABC policy. Disclosures are reviewed with appropriate risk mitigation applied.
We regularly review and update our policies and procedures to ensure we align with leading ethical practices, while complying with legal and regulatory requirements. Last update December 2023.

Whistleblowing

Speak up - Don't hesitate to escalate

At OQ we are committed to ethical conduct in our business activities. Breaches of our business principles or violations of applicable laws, can be reported anonymously. Reports received will be independently evaluated and treated with utmost confidentiality.

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