ENERGY

Kuwait says to sign deal for Oman’s Duqm oil refinery in April

Oman’s Oil and Gas Minister Mohamed al-Rumhi (right) speaks to the press during a meeting for the 2nd Joint Ministerial Monitoring Committee of OPEC, in Kuwait City, on March 26, 2017. (AFP)

Kuwait will sign a partnership agreement with Oman for the Duqm oil refinery in the Gulf Arab Sultanate on April 10, Kuwait's oil minister said on Thursday.

The 230,000 barrel per day facility is part of the vast industrial zone that is Oman's biggest single economic project and aims to diversify its economy away from oil.

The agreement with Kuwait comes after Oman failed to reach an agreement with Abu Dhabi's state-owned International Petroleum Investment Co (IPIC).
 

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Last Update: Thursday, 30 March 2017 KSA 16:22 - GMT 13:22
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