News
Duqm Refinery hires Credit Agricole to advise on fundraising

Oman’s Duqm Refinery & Petrochemical Co. hired Credit Agricole SA to advise on fundraising for its $6bn project, according to two people with knowledge of the plan.
Credit Agricole will help the Omani company raise more than $2 billion in loans, said the people, who asked not to be identified because the information is not public. Funding backed by export credit agencies and a sale of bonds may also be considered to support the project, the people said.
The Duqm refinery project is 50 per cent owned by state-controlled Oman Oil Co, with the other 50 per cent held by Kuwait Petroleum International, a unit of government-owned Kuwait Petroleum Corp. The project involves building a 230,000-barrel-a-day refinery in the Duqm Special Economic Zone on the Arabian Sea coast. Spokesmen for Oman Oil and Credit Agricole did not respond to requests for comment.
Oman is pushing ahead with projects to diversify its economy even as low oil prices hurt its finances.
State-owned Electricity Holding Co. last month hired JPMorgan Chase & Co. and Bank Muscat to advise on raising $2 billion for projects, while Bank Muscat and Standard Chartered Plc are said to be helping Oman Oil raise about $1.4 billion from two loans for its liquefied petroleum gas and methanol businesses.
-
OER Magazines2 months ago
OER, February 25
-
Alamaliktistaad Magazines2 months ago
Al-iktisaad, February 2025
-
Economy1 month ago
Is Gold a Good Investment in 2025? A Deep Dive into the Precious Metal’s Future
-
Banking & Finance2 months ago
Sohar International Appoints Abdul Wahid Mohamed Al Murshidi as Chief Executive Officer
-
Energy2 months ago
Oman Gets Its First Hydrogen Refueling Station
-
News2 months ago
Shell Oman Marketing Company Hosts the 1st Lubricants Technology Conference in Muscat
-
News2 months ago
Oman Explores Semiconductor & EV Investments with EONH Private Holdings & Jetour Global
-
News1 month ago
Nothing Phone 3a and 3a Pro launches in the Middle East
You must be logged in to post a comment Login