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FINANCIAL NEWS
Oman plans $300m expansion of Sohar refinery
29 Jul 2010
(MENAFN) An official at the Omani government said that the Sultanate will spend $300 million on increasing capacity at its Sohar refinery in the northeast of the country, in line with expansion across its energy industry, Reuters reoirted
The refinery, the largest in Oman, has capacity of 116,000 barrels per day (bpd), which would be increased to 190,000 bpd, according to the official.
The refinery expansion will increase feedstock to Omani industries, as well as contributing to the availability of refined fuels for export to international markets.
Oman is a small oil producer, with output of around 850,000 bpd, but its crude is used to price around 12 million bpd of exports to Asia from some of the largest exporters in the world in the Gulf.
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