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Tag Archives: Malaysia

Petronas and Saudi Aramco joint venture on track

Pengerang Refining and Petrochemical (PrefChem), a joint venture between Petronas and Saudi Aramco, is expected to restart a crude distillation unit at its oil refinery in Malaysia in July, three sources familiar with the matter said. The Pengerang Refining development, which is part of Petronas’ $27 billion Pengerang Integrated Complex, …

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Malaysia king agrees to pardon Anwar after opposition election win

Malaysia’s king has agreed to pardon Anwar Ebrahim, the country’s newly installed prime minister said on Friday, paving the way for the jailed opposition leader to return to politics and potentially become premier. It was the latest dramatic development after Mahathir Mohamad’s opposition alliance inflicted a shock defeat on the …

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Africa, south-east Asia seen driving takaful growth

The global Islamic insurance (takaful) industry has strong growth prospects across relatively new markets in Africa and south-east Asia, with significant Muslim populations, as well as core markets such as the GCC, Malaysia and Turkey, according to analysts. In light of the industry’s strong growth prospects, the World Takaful Conference …

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Mubadala Petroleum to invest in Malaysia projec

Mubadala Petroleum and its partners will invest more than $1 billion (Dh3.67 billion) in the development of an offshore gasfield in Malaysia with first gas expected by third quarter of 2021. According to an announcement on Wednesday, the Pegaga gasfield development in Block SK 320 will be taken up by …

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Saudi Aramco, Petronas said to near $8b loan deal

Saudi Arabian Oil Co. and Malaysia’s state-owned oil firm are close to raising an $8 billion loan to partly finance the construction of a planned refinery and a petrochemical complex in the Southeast Asian nation, people familiar with the matter said. Aramco and Petroliam Nasional Bhd could sign the loan …

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