PRefChem - the JV between Petronas and Saudi Aramco

[Tom Kirkman + 8,860]

A warm welcome to PRefChem the Joint Venture between Petronas and Saudi Aramco.  Great news indeed! 

Elections were held in Malaysia last week, and there was a significant change of government.  Waiting to see how the new / old Prime Minister will impact Malaysia's National Oil Company, Petronas.

Anyway, back to the News about PRefChem:

Aramco looks to bolster SE Asia presence via JVs with Petronas

"The two state-owned oil companies launched yesterday their corporate identity for their JVs in the PIC, namely Pengerang Refining Company Sdn Bhd (PRefChem Refining) and Pengerang Petrochemical Company Sdn Bhd (PRefChem Petrochemical), collectively known as PRefChem.

Earlier in March, Petronas and Saudi Aramco concluded the share purchase agreement for equal ownership and participation in the operations of the refinery, cracker and selected petrochemical facilities in the PIC.

Through the collaboration, Saudi Aramco will supply 50% of the refinery’s crude feedstock requirements with the option of increasing to 70%, Petronas said in a statement.

Meanwhile, natural gas, power and other utilities will be supplied by Petronas and its affiliates. The parties will share the rights to off-take the production of the JVs on an equal basis."

[Javid + 2]

Hi Good Morning to All. Pleasure to be connected with the forum. Regards

[Tom Kirkman + 8,860]

1 hour ago, Javid said:

Hi Good Morning to All. Pleasure to be connected with the forum. Regards

Welcome to the Oil Price forum, Javid.

Please feel free to introduce yourself in the New Members thread:

 

[Javid + 2]

Name: Javid

Currentl Country: Oman

24 Years of experience in the field of Process Design in Oil & Gas Facilities. Currently working with Petroleum Development Oman