Aramco plans to suspend cooperation projects with Petronas

Huitong Network2month28Daily News - Monday(2month27day)Malaysian Prime Minister Najib(Najib Razak)After meeting with visiting Saudi Arabian King Salman, it was announced that Saudi Aramco, the national oil company, will invest in a refining and petrochemical project in Johor Bahru, Malaysia70USD100mn

To be signed todayRAPIDProject Transaction Agreement

Najib represents as up to270Integrated development project for a billion dollar refinery and petrochemical products(Hereinafter referred to as“RAPIDproject)The initiator, Malaysia State Oil Company(Petroliam Nasional)The investment decision was made after a discussion with senior management of Saudi Aramco on Monday morning.

Industry insiders1Yue stated that Aramco plans to suspend its cooperation project with Petronas, and Najib's remarks mark a dramatic reversal in the fate of the project. Meanwhile, despite Amis attempting to suspend cooperation, Petronas has stated that it will continue to advance the project process. But Najib did not provide more details on the sharp change in attitude.

Saudi King Visits Malaysia and signs a large order to jointly build270Billion dollar refining project

In collaboration with King Salman of Saudi Arabia(King Salman)After holding a national lunch with his entourage, Najib stated at a brief press conference that this is a significant investment, and more details will be provided2month28Announced daily.

Najib said, "I just want to confirm that the agreement has been reached, and the King of Salman is..."2month28I am quite satisfied with signing this agreement today

Petronas(PNB)Saudi Aramco executives are expected to meet on Tuesday(2month28day)Sign a transaction agreement.

An industry insider familiar with the matter stated that Amis will purchaseRAPIDThe refinery, producers, and shares in the petrochemical business of the project. According to relevant sources, Aramco also provides services that will be provided byRAPIDAt least for project processing50%ofcrude oilTo further increase oil supply.
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