APICORP announces $100mn financing for Oman’s Duqm refinery

The Arab Petroleum Investments Corporation (APICORP), a multilateral development bank, recently announced a $100mn investment as part of a consortium of international and regional banks to finance the construction of Oman’s Duqm refinery.

Situated within the Duqm Special Economic Zone, the refinery is joint venture between Kuwait Petroleum International and Oman Oil Company. 

Once the refinery is completed, it will have the capacity to process around 230,000 b/d of crude oil. Its primary products will be diesel, jet fuel, naphtha and LPG.