Oman is reportedly set to invest in a $3.85bn refinery project in Sri Lanka. Details are shaky, but the move would further push Oman up the value chain – just as the sultanate is consolidating its state-owned companies – if it can find the cash. 

Oman Oil Minister Muhammad al-Rumhy was in Sri Lanka this week to lay the ‘foundation stone’ for a new oil refinery at Hambantota on Sri Lanka’s southern coast, lending credence to recent reports tying Muscat to...