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Oman's Orpic seeking $2.5bn loan to boost refinery output
- Oman: Tuesday, April 09 - 2013 at 01:18
Oman Oil Refineries and Petrochemical Companies (Orpic) is in talks with two local lenders to raise $2.5bn to expand its Sohar refinery and refinance a previous loan, Reuters has reported. A government official involved in the project said $1.5bn of any loan agreed would be used to upgrade a crude oil processing unit at Sohar refinery to produce 180,000 barrels per day (bpd) from the current 116,000 bpd, while the remaining $1bn would refinance an old loan taken out in 2007 for a previous expansion of the refinery.
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