State-owned Oman Oil Refineries and Petroleum Industries (ORPIC) is in negotiations with two banks to raise in the region of $2.5bn to fund both the expansion of its 116,000 b/d Sohar refinery, and the refinancing of a previous loan, a government official has said.
If agreed, Oman would become the first Middle East oil producer to start seeking financing to expand a refinery or build new plants this year. (CONTINUED - 574 WORDS)
