Omani Govt. planning to invest in oil refinery in Sri Lanka

The Omani government is planning to invest in an oil refinery in Sri Lanka, the oil minister Mohammed Al Rumhy said on Saturday, according to the Oman News Agency (ONA).   

The Oman Oil Company (OOC) is conducting a feasibility study for acquiring a 30% stake in an oil refinery in Sri Lanka, the minister added.  

Al Rumhy expected that the crude prices will range between $65 and $75 per barrel until the end of 2019.   “The Sultanate is still committed to the ministerial committee agreement to monitor the agreement on managing the supply of crude oil to the market amongst OPEC member states and non-OPEC countries till the end of the year,” ONA reported, citing Al Rumhy as saying.