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Message: <blockquote data-quote="monson" data-source="post: 24306578" data-attributes="member: 30005">Oman denies it has agreed to invest in Sri Lanka oil refinery projectCOLOMBO/DUBAI, March 20 (Reuters) - Oman’s oil ministry on Wednesday denied being part of a $3.85 billion plan to build an oil refinery in Sri Lanka, a day after the government in Colombo announced the Arab country’s participation....An industry source familiar with the discussions said that there had been talks concerning the project that involved Oman but that they were at an early stage.The Director General of Sri Lanka’s state-run Board of Investment, Champika Malalgoda, said after the Oman government denial that as far as she was concerned the deal announced on Tuesday was still going ahead.“We approved the project for a joint venture of Singapore company and Oman,” she said, with the Oman taking a 30 percent stake in the refinery venture.- <a href="https://af.reuters.com/article/commoditiesNews/idAFL3N2173JX" target="_blank">https://af.reuters.com/article/commoditiesNews/idAFL3N2173JX</a>BOI responds to oil refinery project; says Oman Oil Company registered "firm intention" to participate in equityThe Board of Investment (BOI) issuing a statement said they were not aware of an agreement in terms of equity arrangements being signed by Oman's Oil and gas Ministry and Silver Park International PTE Ltd.However, the BOI confirmed that the Oman Oil Company had registered their "firm intention to participate in equity upto 30%" on reaching agreement between the parties. Further the statement said  Oman Trading International had expressed willigness to supply the entire feedstock requirement of the project while also taking measures to do the marketing for the products, this too folllowing mutually agreed terms.Further, the BOI stated that the investor- Silver Park International PTE Ltd had conveyed their full confidence in implementing the project.The full statement appears below<img src="http://editorial-new.sundaytimes.lk/wp-content/uploads/2019/03/BOI-statement.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" />- <a href="http://www.sundaytimes.lk/article/1078547/boi-responds-to-oil-refinery-project-says-oman-oil-company-registered-firm-intention-to-participate-in-equity" target="_blank">http://www.sundaytimes.lk/article/1078547/boi-responds-to-oil-refinery-project-says-oman-oil-company-registered-firm-intention-to-participate-in-equity</a>No agreement with Oman Oil and Gas for refinery says Sri Lanka BOIECONOMYNEXT  - Sri Lanka's Board of Investment said there was no agreement with Oman's Ministry of Oil and Gas to invest up to 30 percent of equity in a refinery in the island following a news report which carried a denial from the oil rich state.Sri Lankan officials originally said a Singapore registered company Silver Park International Private Ltd, will invest 3.85 billion US dollars in a refinery with the Oil and Gas Company of Oman taking a 30 percent stake."We are aware that there is no agreement that has been signed between Oman’s Ministry of Oil and Gas and Silver Park International PTE Ltd with regard to equity arrangements of the project," the Board of Investment said in a statement."However, we are aware that Oman Oil Company has registered their firm intention to participate in equity up to 30 percent, subject to reaching agreement between the parties."Furthermore, we are aware that Oman Trading International is willing to supply the entire feedstock requirement of the project as well as do the marketing for the products, upon reaching mutually agreed terms. "The investor - Silver Park International PTE Ltd - has conveyed to the Board of Investment their full confidence in implementing the project."A ground breaking ceremony is to be held on March 24, for a tank farm related to the refinery, officials said."No one on this side of the panel is aware of this investment in Sri Lanka," Reuters, a news agency quoted Salim al-Aufi, undersecretary of Oman’s ministry of oil and gas, as telling a new conference.Reuters said Silverpark International was a unit of Accord group of India. A Tamil Nadu based Accord group also has courted controversy. (Colombo/Mar21/2019)- <a href="https://economynext.com/No_agreement_with_Oman_Oil_and_Gas_for_refinery_says_Sri_Lanka_BOI-3-13802-8.html" target="_blank">https://economynext.com/No_agreement_with_Oman_Oil_and_Gas_for_refinery_says_Sri_Lanka_BOI-3-13802-8.html</a></blockquote>

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