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FINANCIAL NEWS
Oman to invest USD7b in Indonesia project
30 May 2015
(MENAFN) Oman has committed to invest USD7 billion to build oil storage facilities, a petrochemical plant and a refinery in Indonesia, Arab News reported.
Oman also agreed to supply crude oil to the former OPEC member but details on the amount and price were not disclosed.
Oman”s Energy Minister said the refinery would be built in Indonesia’s Riau province, with the oil products being purchased by Pertamina.
“We are now in the process of issuing the permits,” he said, adding that the groundbreaking investment was expected next year.
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