As with its oil-producing neighbors, Oman has invested heavily to maximize the value it can extract from its hydrocarbon sector beyond simply pumping more crude oil and sending it overseas. For decades it has developed its refining and trading capacity in order to profit from an integrated oil sector.
Typifying this effort, the country last year brought online the 230,000 b/d Duqm refinery. Owned by OQ8, a 50:50 joint-venture between Oman’s OQ and Kuwait’s KPI, the plant is a merchant refinery dedicated solely to the export of its refined products. (CONTINUED - 766 WORDS)
