Oman Ups India Refinery Spend

摘要

Oman Oil Co. (OOC) is set to increase investment in a 120,000 b/d refinery it is building in India with Bharat Petroleum, the two companies said Monday. State-backed OOC agreed to spend $265 million on top of its earlier investment of $15 million. The refinery is scheduled to be commissioned in the second quarter of next year; on completion, OOC will own 26% and India's Bharat 49%, with the rest of the shares to be sold through a public offering.