Duqm Refinery and Petrochemical Industries Company

Duqm Refinery - Multiple ECA Loan

Industry
Oil & gas/Oil - Downstream (Refining)
Area of finance
Project & Infrastructure Finance
Country
Oman

Deal Overview

As the first joint venture of its type between government-owned oil companies in the Middle East, the project is a landmark in co-operation between Gulf Cooperation Council (GCC) countries and forms the first stage of an integrated refinery and petrochemical complex planned by DRPIC and its...

show more

As the first joint venture of its type between government-owned oil companies in the Middle East, the project is a landmark in co-operation between Gulf Cooperation Council (GCC) countries and forms the first stage of an integrated refinery and petrochemical complex planned by DRPIC and its shareholders The DRPIC financing was the largest oil and gas project financing to sign globally in 2018, the largest project financing in EMEA in any sector to sign in 2018, and largest ever project financing to-date in the Sultanate of Oman, Duqm was financed against a challenging macro-economic backdrop for the refining business. The collapse in oil prices in late 2015 and early 2016 remains fresh in banks’ minds, heightening the focus of credit committees on the economic robustness of oil and gas projects in the face of extreme market shocks. Duqm therefore had to be structured to survive extreme stress-test scenarios on gross refining margins.

show less
Deal Volume
$ 4.8bn
Financial Close
01 November 2018
Sources
Submitted by participant(s), Proximo article, Proximo article, Proximo article

All Dealmakers

Ricky Shah

To view dealmakers, please tag or log in to tagmydeals

Mike  Campbell

To view dealmakers, please tag or log in to tagmydeals

Paul Hodgson-Jones

To view dealmakers, please tag or log in to tagmydeals

Leo Porter

To view dealmakers, please tag or log in to tagmydeals

sonia hanifi

To view dealmakers, please tag or log in to tagmydeals

Peter French

To view dealmakers, please tag or log in to tagmydeals

Rocio Uriarte

To view dealmakers, please tag or log in to tagmydeals

Adrien Deslandes

To view dealmakers, please tag or log in to tagmydeals

Navjot Singh

To view dealmakers, please tag or log in to tagmydeals

Manav Futnani

To view dealmakers, please tag or log in to tagmydeals

Huillet Thibaud

To view dealmakers, please tag or log in to tagmydeals

Andrei Volkov

To view dealmakers, please tag or log in to tagmydeals

Arnaud Cachard

To view dealmakers, please tag or log in to tagmydeals

To view dealmakers, please tag or log in to tagmydeals

Tag yourself
Tag a colleague

Projects

Duqm Refinery

Greenfield
Oil - Downstream (Refining)
Oman
$ 7bn