Oman and Iraq consider setting up a new refinery

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source: INA

هذه الصفحة متوفرة بهذه اللغة: العربية

5 July 2019

MUSCAT (WAF): Oman and Iraq signed a memorandum of understanding (MoU) to grow bilateral cooperation in the Oil and Gas sector and to study the possibility to establish a new oil refinery in Oman, Iraq News Agency (INA) reported yesterday.

The MoU also aims to “export Iraqi crude oil to the Sultanate of Oman and the import of oil derivatives from the Sultanate, and the establishment of storage facilities for crude oil and petroleum products in both countries”, INA added sourcing a statement by the Iraqi Ministry of Oil.

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Under the MoU, the two countries will explore the possibility of establishing a joint oil refinery in Oman to refine crude oil imported from Iraq, “as well as exploring prospects for joint cooperation and local investment opportunities in the oil and gas industry, investment in exploration and production of oil and gas, refining, Crude and petroleum products of both countries”, INA added.

Dr. Mohammed al-Rumhy, Omani Minister of Oil and Gas told WAF News today that the MoU was signed in Vienna, where he was participating in the Joint Ministerial Monitoring Committee (JMMC), and OPEC+ meeting held on the 1st and 2nd of July.