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16 August 2017 A E JamesMuscat: Capital expenditure of Duqm Refinery’s 230,000 barrels per day-capacity refinery has been scaled down to $5.65 billion, from an earlier estimate of almost $7 billion.The decline in total project cost could be due to a fall in EPC values, following undercutting by competing bidders in the aftermath of the slackness in oil prices and softening of project contract markTimes of Oman - 16-Aug-2017
Duqm Refinery, a 50:50 joint venture between state-owned Oman Oil Company and Kuwait Petroleum International, is seeking 65% of its $7 billion capital expenditure for building the refinery from international and local lending institutionsTimes of Oman - 10-Apr-2017