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Oman may partially privatize Oman Oil Refineries

by ChemOrbis Editorial Team - content@chemorbis.com
  • 13/01/2015 (11:09)
According to market sources, Oman’s government is considering partially privatizing state-owned petroleum refinery Oman Oil Refineries and Petroleum Industries (Orpic) due to economic concerns stemming from sharply plunging crude oil prices. The government aims to raise the country’s revenues via a series of privatization plans over the next three years.

Under the privatization plan, to which the Ministry of Finance has already given initial approval, the government may offer 15-20% of Orpic to the public following the conclusion of an expansion plan in 2016. Orpic’s Sohar refinery and Mina al-Fahal refinery have processing capacities of 116,000 barrels per day (bpd) and 106,400 bpd, respectively while the company also operates aromatics and PP plants at the Sohar refining and petrochemicals complex.

Meanwhile, under the same privatization plan, the government also plans to sell a part of its Abraj Energy Services unit, which provides engineering and well services and operates a fleet of eleven land rigs.
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