Former IPIC project had been shelved. Renewed interest comes after IMO announced new tighter specifications for shipping fuels.

Abu Dhabi’s state investment company Mubadala has put construction of a 200,000 b/d refinery at the UAE’s Indian Ocean port of Fujairah back on the agenda. The $3.5bn project was conceived by former state investment firm IPIC, but abandoned in 2016.

Since the project was shelved, IPIC has been taken over by Mubadala. Now Mubadala is “assessing...