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In 2003, Oman Oil Marketing Company (Oman Oil) was founded. [4] Oman Trading International, a trading division, was established in 2006. [4] Oman Refineries and Petrochemicals Co. was created in 2007 with the merger of Oman Refinery Company and Sohar Refinery Company. [4] In 2009, Oman Oil Company Exploration & Production was founded. [4]
PETRONAS, through its subsidiary PC Oman Ventures Ltd acquired a 10% participation interest in the field from Oman Oil (now known as OQ) in December 2018. [4] With the acquisition, the field ownership is now split with 60% owned by BP, 30% by OQ and 10% by PETRONAS. Production from the EPSA extension area (Ghazeer) commences in October 2020. [5]
Duqm Refinery is an oil refinery at the port town of Duqm in central-eastern Oman, and is expected to have a capacity of 230,000 barrels per day.It is owned and operated by OQ8, a joint venture between OQ, a subsidiary of the Government of Oman, and Kuwait Petroleum International, a subsidiary of Kuwait Petroleum Corporation.
BP reported Monday that it has begun production from the Ghazeer field in the Omani desert ahead of schedule.
Construction job openings dropped nearly 40% from a year ago in October, according to a separate report from the Bureau of Labor Statistics released Tuesday. Contractors hired 293,000 workers ...
Launched by the Dubai Mercantile Exchange (DME) on 1 June 2007, the DME Oman Crude Oil Futures Contract (OQD) is the Asian crude oil pricing benchmark. The contract is traded on the CME Group ’s electronic platform CME Globex, and cleared through CME Clearport.
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A geological survey of the country in 1925 by the D'Arcy Exploration Company found no conclusive evidence of oil. Twelve years later, when American geologists began intensively searching for oil in neighboring Saudi Arabia, Sultan Said bin Taimur granted a 75-year concession for central Oman to the Iraq Petroleum Company (IPC), and a separate concession for the province of Dhofar.