Oman's Duqm refinery units running at full capacity ahead of inauguration -KPI CEO

The Duqm refinery is a $9 billion joint venture between Oman's OQ Group and Kuwait Petroleum International and located in Oman's Duqm Industrial Zone. The refinery is in line with Kuwait's strategy to refine 425,000 bpd of its oil abroad.

Oman's Duqm refinery units are running at full capacity of 230,000 barrels per day (bpd), Kuwait Petroleum International (KPI) CEO Shafi Taleb Al-Ajmi told Reuters on Monday.

Kuwait emir, Sheikh Meshal al-Ahmad al-Sabah, will inaugurate the refinery on Wednesday alongside the Sultan of Oman Haitham bin Tariq. The Duqm refinery is a $9 billion joint venture between Oman's OQ Group and Kuwait Petroleum International and located in Oman's Duqm Industrial Zone.

The refinery is in line with Kuwait's strategy to refine 425,000 bpd of its oil abroad. "Today we see that there is a thirst for (petroleum) products, and there is a greater global demand and a greater refining (profit) margin compared to previous years," Al-Ajmi added.

The refinery exported at least 70 shipments of oil products so far worldwide, Al-Ajmi said. OQ has also signed an agreement to develop a petrochemicals complex in the Duqm Economic Zone with Kuwait Petroleum International and Saudi Basic Industries Corp. (SABIC), in December 2022.

Al-Ajmi expects the study to be completed by the end of March to clarify the feasibility of the petrochemical complex project.

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