Abu Dhabi government-owned International Petroleum Investment Company (Ipic) is studying plans for five refineries worldwide with a total investment of $20 billion (Dh73.4bn).
Ipic is eyeing refinery projects in Fujairah, Morocco, Oman, Pakistan and Jordan, either alone or with partners, London-based Meed magazine said, citing sources close to the company.
The plans include a potential investment in Jordan Petroleum Refinery Co, which is looking at a $2bn revamp of its refinery in Al Zarqa area, it said.
The firm had begun to study the projects in 2006 but had put the plans on hold at the end of 2008 when the global financial crisis hit.
Ipic is one of the vehicles used by Abu Dhabi to invest oil export revenues.