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FINANCIAL NEWS
Oman, CB&I Lummus sign Sohar Refinery expansion deal
21 May 2011
(MENAFN) Omani Minister of Oil and Gas, Mohammed bin Hamed Al Rumhy, stated that Omani Oil Refineries and Petroleum Industries signed an agreement with CB&I Lummus B V which includes expansion plans for Sohar Refinery, reported Times of Oman.
Al Rumhy also said that the expansion was aimed at increasing the refinery’s production to 187,000 barrels per day (BPD) up from the current 116,000 BPD. He pointed out that on a wider scale, the deal would boost Oman’s petrochemical sector.
The Minister added that Sohar’s expansion would cost around USD1.5 billion and would be done during the coming 4 years.
It is worth noting that the pact would boost the Arab country’s production of various petroleum products such as gasoline, naphtha, LPG, Jet A-1 fuel, propylene and diesel.
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