Oman’s state energy firm OQ says that its new Ras Markaz crude oil storage facility in the south of the country will receive its first shipment of crude oil in Q1 next year. The first eight tanks with capacity to hold 5.7mn barrels of crude oil have been completed and will be used to hold crude oil feedstock for the nearby greenfield 230,000 b/d OQ8 refinery at Duqm (OQ 50%, Kuwait Petroleum International 50%).
Duqm and Ras Markaz are not connected to Oman’s crude oil pipeline network and as a result will have to receive feedstock by tanker once operations begin. Earlier this year Oman’s Ministry of Energy and Minerals and OQ subsidiary Oman Tank Terminal Company (OTTCO) signed a framework agreement to develop a new pipeline to facilitate the export of Omani crude oil from the Ras Markaz storage terminal (MEES, 9 September). However, with Kuwait meant to supply at least 50% of the Duqm refinery’s feedstock, it will continue to receive volumes by tanker even if a pipeline is constructed. (CONTINUED - 959 WORDS)
