Oman Oil Company (OOC) has signed an MoU with fellow GCC state firm Kuwait Petroleum for joint development of a 230,000 b/d refinery at Duqm in Oman (see map, p9).

The firms are to be equal partners in the Duqm Refinery & Petrochemical Industries (DRPIC) JV to build, own and operate the refinery and later a petchems complex.

The MoU effectively marks the end of Abu Dhabi’s interest. Abu Dhabi state investment fund IPIC originally signed up with OOC to take 50% of Duqm....