Duqm Refinery receives multi-source project financing
The US$4.61 billion sourced for the project represents the largest project financing in the Sultanate of Oman.
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The US$4.61 billion sourced for the project represents the largest project financing in the Sultanate of Oman.
Unspecified oil company to enter into a tolling agreement and serve as the refinery’s supply and offtake counterparty.
The integrated industrial complex is expected to begin operations in 2025.
The joint venture marks the first partnership between the companies.
Unit will convert heavy, higher sulfur residual oil into marine gasoil and diesel.
Latest report asserts that global oil supply/demand will be generally balanced in 2019, but product market weakness will build in 2020.
TechnipFMC will undertake EPC work at MIDOR’s existing Egypt refinery.
Project would create first onshore location in the US Gulf capable of servicing fully laden very large crude carriers.
Fluor will undertake EPC work at Valero’s Pembroke Refinery.
CIBC will assist with the full project financing for Meridian’s Davis Refinery project.
Latest report forecasts increased growth to be curtailed by a slowdown in global economic growth.
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