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  • 01-02-17

    Oman Oil, Kuwait Petroleum ink deal to build Duqm refinery

    (MENAFN) A shareholder deal between Oman Oil Co. and Kuwait Petroleum International for building Duqm refinery will be completed soon.

    Moreover, Kuwait Petroleum showed interest in developing the refinery as s 50:50 equity joint venture with Oman Oil Co. last year.

    Accordingly, the Omani firm hopes to start construction work before this year-end or by early next year and the plan to build a 230.000 barrels capacity refinery near the Duqm port.

    Meanwhile, the finance for the project will be organized in a way that 60 percent will be equity and 40 percent will be project finance.

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