Oman and Abu Dhabi Form Joint Venture for Petchem Complex

Al Jashmi: Strategic for shipping trade routes. Al Qubaisi: Important for both countries. Government-owned Oman Oil Co. (OOC; Muscat) and International Petroleum Investment Co. (IPIC; Abu Dhabi), owned by the government of Abu Dhabi, have announced the formation of a joint venture company to own and manage the development of a refinery and petrochemical complex at Duqm on the east coast of Oman. The new, 50/50 company, Duqm Refinery and Petrochemical Industries LLC, expects to begin production in 2017. Oman had been trying to attract partners for the project for...

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