20/05/2026
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20/05/2026
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KUWAIT CITY, May 20: The Kuwaiti-Omani Duqm Refinery achieved positive results by the end of 2025. The newspaper obtained a copy of an official report, stating that revenues reached $7 billion last year, while capital expenditures reached $352 million. Earnings before interest, taxes, depreciation and amortization (EBITDA) for the past year reached $276 million, exceeding the approved targets and reflecting the strength of the operational performance of the refinery.
The same report confirmed that the transformation plan achieved savings of $270 million, a step that underscores tangible progress in enhancing operational efficiency and supporting long-term value creation. The refinery realized a remarkable 13 percent improvement in costs compared to the controllable operating budget, showing the efficient implementation and financial discipline in its various operations.
The report indicated that operational performance remained stable and reliable throughout the year, achieving 100 percent reliability in the supply and distribution chain, along with maintaining an operating rate of 99 percent. These results prove the strength of the operational systems and institutional capabilities that support the daily operations of the refinery efficiently and stably.
The refinery reached a milestone in 2025 with the completion of its 633rd shipment, indicating rapid growth in its export operations and its increasing role in global energy supply chains. Since its first shipment in May 2023, the refinery has exported more than 19 million tons of refined products to various markets worldwide. It has been able to efficiently manage and operate a diverse range of vessel sizes, from small vessels to large LR2 tankers.
It shipped 304,388 metric tons of liquefied petroleum gas (LPG) and completed loadings of 50,000 tons of petroleum coke in less than 120 hours per shipment. In addition to enhancing its logistical capabilities through the implementation of nighttime berthing and crude oil offloading operations at the Ras Markaz storage terminal, the refinery maintained an outstanding operational safety record.
This achievement reflects the strength of the logistical capabilities of the refinery and its commitment to supply energy products to global markets according to the highest safety standards. Regarding health, safety, security and the environment, the report confirmed that the refinery prioritized achieving 100 percent performance in health, safety, security and environmental indicators as a corporate objective for 2025.
This is supported by solid results in process safety, embodying the deeply rooted safety culture within the organization and the collective commitment to making safety a fundamental element in all its operations. The report highlighted that for 2025, the sustainability indicator milestone was the release of shareholders’ guarantees, underscoring the maturity of its operations and its financial strength, signaling a successful move into steady commercial functioning.
The refinery is optimizing value by taking advantage of its advanced operational flexibility to refine raw material selection, improve operational efficiency, and increase the value derived from crude oil processing. It also conducted the first Solomon benchmarking study, which enabled it to evaluate its operational performance compared to its global peers and identify opportunities for continuous improvement.
By Najeh Bilal Al-Seyassah/Arab Times Staff
