Global funding for Duqm Refinery touches 70%

Muscat: Over 70 per cent of funding for the Duqm refinery, which is valued at about $8.5 billion, is from international markets with the marketing is done by one of the Kuwaiti banks, according to a report from Kuwait's Al Jarida Arabic newspaper. The Kuwaiti and Omani governments are expected to contribute to the project in varying degrees and contracts have been signed for all logistics services associated with the project through the Kuwait International Petroleum Company, the reported added.