Oman's Bank Muscat has signed a 25-month loan agreement worth $200 million with state-run Oman Refineries & Petrochemicals Company (ORPC), Bank Muscat said on Saturday.

The loan would be used to "refinance the working capital needs" of ORPC, the bank said in a statement.

ORPC operates two refineries. The Sohar refinery has a capacity to produce 116,000 barrels per day while the second refinery is at Muscat with a capacity to pump 85,000 bpd. – Reuters