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Oman Refinery Exports First Shipment of High-quality Diesel

Duqm Refinery Project (from the OQ Group website)
Duqm Refinery Project (from the OQ Group website)
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Oman Refinery Exports First Shipment of High-quality Diesel

Duqm Refinery Project (from the OQ Group website)
Duqm Refinery Project (from the OQ Group website)

Oman's Duqm Refinery successfully exported its first shipment of high-quality diesel as per international specifications.

This coincides with the company getting closer to achieving commercial operation, with trial operations continuing to progress, exceeding 81 percent, while the percentage of construction work has exceeded more than 99 percent, Oman's state news agency reported.

The trial operations included testing all supply chains at the Duqm Refinery, including crude oil storage facilities at the Ras Markaz and an 80-kilometre-long crude oil transport pipeline.

In recent months, the Ras Markaz crude oil tanks received more than three million barrels of Omani and Kuwaiti crude oil, which were later pumped from Ras Markaz to the refinery complex in Duqm via the oil transportation pipeline.

The trial operations also included the export of the first shipments of naphtha and fuel oil via product storage and export dock at Duqm Port.

The Duqm Refinery Project is a joint project between the OQ Group and Kuwait Petroleum International Company and is located in the heart of the Special Economic Zone in Duqm.

The project includes three main packages capable of producing diesel, jet fuel, naphtha, liquefied petroleum gas, sulfur, and petroleum coal.

The Duqm Refinery has a capacity of 230,000 barrels per day and is capable of dealing with various types of crude oil, including Omani and Kuwaiti crude.

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Russian Wheat Export Prices Rise

FILE PHOTO: A drone view shows a combine harvesting wheat in a field in the Rostov Region, Russia July 10, 2024. REUTERS/Sergey Pivovarov//File Photo
FILE PHOTO: A drone view shows a combine harvesting wheat in a field in the Rostov Region, Russia July 10, 2024. REUTERS/Sergey Pivovarov//File Photo
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Russian Wheat Export Prices Rise

FILE PHOTO: A drone view shows a combine harvesting wheat in a field in the Rostov Region, Russia July 10, 2024. REUTERS/Sergey Pivovarov//File Photo
FILE PHOTO: A drone view shows a combine harvesting wheat in a field in the Rostov Region, Russia July 10, 2024. REUTERS/Sergey Pivovarov//File Photo

Russian wheat export prices rose last week, tracking global prices, with analysts expecting weak export activity due to the upcoming long New Year holiday.

Dmitry Rylko, head of the IKAR consultancy, said the price of Russian wheat with 12.5% protein for free-on-board (FOB) delivery at the end of January was up $3 to $237 per metric ton.

The Sovecon consultancy saw prices for Russian wheat with the same protein content and delivery terms at $233 to $239 per ton, compared with $232 to $238 the previous week.

Russian FOB is expected to be mostly flat on low trade activity, the agency said in a weekly report.

Weekly grain exports were estimated at 0.83 million metric tons, including 0.78 million tons of wheat, up from 0.53 million tons of grain including 0.44 million tons of wheat the previous week as shipments recovered after storm disruptions. Sovecon has upgraded its estimates of December wheat exports by 0.1 million tons to 3.4 million tons, compared to 3.6 million tons a year ago.

IKAR estimates December wheat exports at 3.6-3.7 million tons, down from 4.4 million tons in November. Algeria is believed to have purchased 1.17 million tons of wheat this week. Some traders also expect some Russian wheat to be supplied. Egypt’s state grain buyer, Mostakbal Misr, contracted about 1.267 million tons of wheat, most of which was sourced from Russia, two sources with direct knowledge told Reuters.

Russia's IKAR agricultural consultancy said on Thursday it saw 2025/26 wheat exports down 6% to 41 million tons. Sovecon said on Monday that Russian wheat exports will fall by 17% to 36.4 million tons in the 2025/26 exporting season. Its forecast for the 2024/2025 season was revised to 43.7 million tons, from 44.1 million tons.

Russia harvested 125 million tons of grain and legumes, including 82 million tons of wheat, in clean weight, in 2024, down 13% from last year, data from statistical agency Rosstat showed on Thursday.

The wheat harvest is also down by 13%, to 82.4 million tons. Winter grains were sown over 17.6 million hectares, 1 million hectares less than in 2023. Temperatures remain above normal in all regions, Sovecon noted. The Russian state weather forecasting agency sees worsening conditions for winter cereals in January in the center of Russia and the Volga region.