Aramco offloads 50% stake in Malaysia refinery project

Aramco offloads 50% stake in Malaysia refinery project

Saudi Aramco is offloading its 50% stake in a large refinery and petrochemicals project in Malaysia, transferring ownership to the country’s national oil company Petronas. The financial details have not been disclosed, but are likely to be significant — when the PRefChem joint venture was announced in 2017, Aramco pledged to invest some $7 billion.The JV involves a 300,000 barrels-a-day refinery in Pengerang, which produces jet fuel and other pr…

Aramco ends eight-year downstream partnership with Malaysia's Petronas

PRefChem's full ownership will give Petronas ‌the flexibility to ⁠source crude beyond the ⁠Gulf region and direct output to meet surging regional fuel demand

Aramco and PETRONAS announce transfer of full ownership of PRefChem to PETRONAS

Aramco and PETRONAS have announced the signing of an agreement for the transfer of Aramco’s equity stakes in Pengerang Refining Co. and Pengerang Petrochemical Co. to PETRONAS.

Aramco Exits Malaysian Refining, Petrochemical Complex

'Recent developments in global energy markets have underscored the importance of operational agility for energy infrastructure of strategic national signif...