Oman Oil Company (OOC), the Sultanate’s investment arm in the energy and energy-related sectors, and Kuwait Petroleum International (KPI), the international subsidiary of Kuwait Petroleum Corporation (KPC), on Wednesday signed a memorandum of understanding (MoU) to cooperate in the development of Duqm Refinery and Petrochemical Complex in Duqm (SEZD). Both firms are aiming to reach a long standing partnership to own, manage and operate a refinery and at a later phase, a petrochemical complex in Duqm. It is envisaged that both parties will own equal shares in a joint venture company for such purpose. (Times of Oman)