• Oilmar FZCO formally establishes inaugural Board of Directors
• Three directors: CEO Yusif Mammadov, CFO Nain Shafi, and Head of Legal Tahira Shikhiyeva
• Board to set strategic direction and oversee risk management across global operations
• Further Executive and Non-Executive Director appointments expected

Oilmar FZCO has formally established a new Board of Directors, the Dubai-headquartered bunker and cargo trading house has announced.

The three inaugural directors are CEO Yusif Mammadov, Chief Financial Officer Nain Shafi, and Head of Legal, Credit and Compliance Tahira Shikhiyeva.

Mammadov is also the owner of Oilmar FZCO, having completed a management buyout to acquire full ownership of the company in 2025 via an independent investment fund.

The board is charged with setting strategic direction, overseeing risk management, and governing the company's global operations, with regional management teams continuing to handle execution in their respective markets.

The formation was first announced at Oilmar's Q1 2026 Townhall as part of a broader governance enhancement initiative.

"The establishment of the Board marks the next stage in Oilmar's development as a global energy and marine fuels business," Mammadov said.

"It creates a governance framework that will support our future growth, strengthen oversight across the organization, and ensure that our strategic decisions are guided by long-term value creation and responsible risk management."

Shafi, who joined Oilmar as CFO in 2023, is a Fellow Chartered Accountant with more than 15 years of international finance experience, including roles at PricewaterhouseCoopers and listed marine services group Gulf Marine Services.

Shikhiyeva has served as Head of Legal, Credit and Compliance at Oilmar since April 2025, bringing 14 years of experience across energy, maritime, and commodity trading, including senior legal counsel positions at Equinor Azerbaijan and the Karabagh Joint Operating Company in the Caspian region.

The board is expected to be expanded through the appointment of additional Executive and Non-Executive Directors as the company grows.

Founded in 2015, Oilmar has trading desks in Dubai, Singapore, Greece, and South Korea, and representatives across Turkey, the United States, Vietnam, the United Kingdom, and Spain.