Saudi Aramco abandons plans to invest in refining, petrochemical project JV with Petronas

31-Jan-17

Saudi Aramco has shelved plans for a partnership with Malaysian state-oil firm Petroliam Nasional Berhad in a US$27 bln refining and petrochemical project in the southeast Asian country, as per sources in Reuters. Aramco had been in talks with Petronas about a joint venture in the Refinery and Petrochemical Integrated Development (RAPID) project in the southern Malaysian state of Johor. Aramco and Petronas officials did not respond for comments.