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Malaysia's Petronas, Saudi Aramco May Sign New Deal on Refinery Project

Reuters, February 22, 2017
Reuters

Malaysia's state oil firm Petroliam Nasional Bhd (Petronas) and Saudi Aramco are expected to sign an agreement to collaborate on the country's Refinery and Petrochemical Integrated Development (RAPID) project, two industry sources said on Wednesday. Aramco had decided to suspend its partnership with Petronas in the refining and petrochemical complex in the southeast area of the country, according to sources last month.

The signing is expected to take place on Monday, said one of the sources with knowledge of the matter who declined to be identified, during a visit by Saudi Arabia's King Salman to Malaysia. Saudi Aramco declined to comment and Petronas was not immediately available for comment.

 

(Reporting by Emily Chow and Reem Shamseddine; Editing by Christian Schmollinger)

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