Latest News

Latest News
2017

Oman sets November target for Duqm Refinery financial close

Jul 07, 2017

MEED The 230,000 barrel-a-day refinery is the sultanate’s largest upcoming project Duqm Refinery, Oman’s largest single-phase project, is expected to reach financial close in November, according to Isam al-Zadjali, the chief executive of Oman Oil Company (OOC), which is one of the co-owners of the project. Al-Zadjali said that the 230,000 barrel-a-day refinery will award main contracts on all three packages in the next two weeks. “In two weeks,... Read More

Oman signs land agreement for Ras Markaz crude park

Jul 07, 2017

MEED The world’s largest crude storage terminal has received bids  Oman Tank Terminal Company (OTTCO), the developer of the world’s largest crude storage terminal, has signed an agreement with the Special Economic Zone Authority at Duqm (SEZAD) for land rights to build the crude park at Ras Markaz. OTTCO’s parent company Oman Oil Company has revealed the memorandum of understanding (MoU) gave it the right to use the land to build the first ... Read More

ExxonMobil emerges as white knight for Jurong Aromatics

May 12, 2017

The Business Times EXXONMOBIL has agreed to acquire the Jurong Island assets of Jurong Aromatics Corporation (JAC), effectively giving the beleaguered firm a new lease of life. Confirming market speculation that has swirled for some months, the American integrated oil giant said on Thursday that it has reached an agreement on the deal, beating five other bidders such as Lotte Chemical Corp and SK from Korea, which had been shortlisted. The acquisition sum was not... Read More

Saudi Aramco extends tank farm bid deadline

May 12, 2017

MEED Saudi Aramco has extended the deadline for bids on the construction of an estimated $400m tank farm project in the northwest of Saudi Arabia. Companies have been asked to submit engineering, procurement and construction (EPC) bids by 11 June, an extension of the previous deadline of 8 May. Aramco earlier this year tendered the project to build storage tanks for oil products in Duba, Tabuk province, on the Red Sea coast. Contractors prequalified to bid ... Read More

Oman extends bid deadline for region's largest crude storage facility

May 12, 2017

MEED Initial phase to have a capacity of six million barrels Oman Tank Terminal Company (OTTCO) has extended the bid submission deadline for the region’s largest crude storage facility at Ras Markaz. The $400m facility, which is being developed as an alternative crude storage and transportation facility to the Strait of Hormuz has now asked pre-qualified contractors to submit bids by 23 June. The first phase of the project to be built in the Al-Wusta ... Read More