International Petroleum Investment Company (Ipic) has formed a joint venture to build a US$6 billion (Dh22.04bn) refinery and petrochemicals complex in Oman.
The Duqm Refinery and Petrochemicals Industry Company - owned equally by Ipic and the Oman Oil Company (OOC) - will process 230,000 barrel per day (bpd) by 2017 in its first phase, Ipic said yesterday.
This will be followed by petrochemicals facilities.
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