APICORP to invest $100 mln in Oman’s Duqm oil refinery

23/12/2018 Argaam

 

Dammam-based Arab Petroleum Investments Corporation (APICORP) has announced a $100 million investment to finance the construction of Oman’s Duqm Refinery, as part of a consortium of international and regional banks.

 

The $100 million financing consists of $50 million Sharia-compliant and $50 million conventional tranche, it said in a statement on Sunday.

 

Situated within the Duqm Special Economic Zone, the refinery is a joint venture between Kuwait Petroleum International and Oman Oil Company. The $5.75-billion refinery will have the capacity to process around 230,000 barrels of crude oil per day on completion.

 

APICORP has currently committed over $380 million for Oman's energy sector.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.