Mideast Oil Gets Tighter as Refineries in Oman, Bahrain Expand - Bloomberg
Oil supplies from the Persian Gulf are set to tighten further as Oman and Bahrain expand refining capacity, consuming more regional crude to produce fuels like diesel for export.
The new Duqm refinery, a joint venture between Oman and Kuwait, has begun exporting the first cargoes of refined products, according to people familiar with the matter. Traders expect the 230,000 barrel-a-day facility to be running at full capacity by the start of next year.
Bahrain is also expanding its Sitra refinery, boosting the 87-year-old crude processing plant’s capacity to about 400,000 barrels a day from 267,000 a day now. The project will modernize units capable of producing jet fuel and diesel that meet European specifications, according to people with knowledge of that plant’s operations. The expansion is set to be complete by the end of 2024, they said.
The operators of both facilities didn’t immediately respond to requests for comments.
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