KUALA LUMPUR — February 24, 2017: Malaysia’s state-owned oil firm Petronas and Saudi Aramco will sign an agreement during a visit by Saudi Arabia’s King Salman to Malaysia.
“During His Majesty King Salman’s visit, we will be signing a number of new agreements and memorandums of understanding. One of these will involve two of our largest state-owned companies, Saudi Aramco and Petronas,” , Prime Minister Najib Razak said in a statement today. No further details on the agreement were given.
Reuters reported earlier this week that Petronas and Aramco are expected to sign an agreement to collaborate on a 300,000 barrel-per-day oil refinery and petrochemical complex in Malaysia’s southern state of Johor that is valued at $27 billion.