KPI takes stake in Oman refinery and petrochem company

Kuwait Petroleum International (KPI), a subsidiary of Kuwait Petroleum Corporation, has acquired from Oman Oil Company a 50% interest in Duqm Refinery and Petrochemical Industries Company. Once completed, the Duqm refinery will have the capacity to process around 230,000 b/d of crude oil. The new $6bn greenfield crude oil refinery and petrochemical complex is located within the Special Economic Zone of Duqm in the Sultanate of Oman.