Dubai—Just months after being shelved by its previous owner, plans to build a new 200,000 b/d refinery at Fujairah have been resurrected by Abu Dhabi’s Mubadala Investment Company. The Fujairah refinery project, at an estimated cost of $3 billion, was put on hold due to the oil price slump and as its developer, state-owned International Petroleum Investment Corp (IPIC), was merged with another state-run investment vehicle, Mubadala Development.
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