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Oman-Kuwait JV to open $9bn crude oil refinery 

By Pramod Kumar
Architecture, Building, Factory OQ8
The OQ8 refinery has been developed by a joint venture between Oman's OQ Group and Kuwait Petroleum International

The $9 billion OQ8 crude oil refinery, which has a daily capacity of 230,000 barrels, will be inaugurated on Wednesday.

The refinery has been developed by Duqm Refinery and Petrochemical Industries, a joint venture between Oman’s OQ Group and state-run Kuwait Petroleum International.

It is the largest joint investment in the petrochemical and refinery industry between two Gulf Cooperation Council countries, said Abdulsalam Al Murshidi, president of Oman Investment Authority.

The inauguration of OQ8 will pave the way for regional and global investment in Oman, especially in the special economic zone at Duqm, he added.

Trial operations for the crude oil distillation unit at Duqm refinery started in April 2023.

OQ8 produces premium petroleum derivatives, including diesel, jet fuel, naphtha, liquefied petroleum gas, sulfur and petroleum coke.

The refinery contributed 3.26 million tonnes to the industrial and energy sectors from March 2023 to January 2024.

Currently, 749 employees from 32 nationalities work at the refinery.

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