KUALA LUMPUR — Petroliam Nasional Bhd (PETRONAS) is set to take full control and ownership of Pengerang Refining Company Sdn Bhd and Pengerang Petrochemical Company Sdn Bhd, collectively known as PRefChem.
This follows an agreement signed by its subsidiary, PETRONAS Refinery and Petrochemical Corporation Sdn Bhd (PRPC), to acquire the entire equity stake currently held by the Saudi Arabian Oil Company (Aramco) in the joint ventures.
Located within the Pengerang Integrated Complex (PIC) in Johor, PRefChem will become wholly owned and operated by the PETRONAS Group of companies, subject to the fulfillment of customary closing conditions.
In a statement today, PETRONAS said full ownership of PRefChem strengthens its ability to support Malaysia’s long-term energy security and industry resilience, particularly as recent developments in global energy markets underscore the need for operational agility in strategic national infrastructure.
“This acquisition will enable PETRONAS to take full control and further enhance operational alignment and flexibility across PRefChem’s value chain.
“It will also harness its international oil supply network and integrated operating model to support continued reliability and resilience across varying market conditions,” the national oil company said.
PETRONAS added that existing crude supply arrangements between Aramco and PETRONAS under current commercial agreements will remain unaffected by this transaction.
The national oil company reiterated its steadfast commitment to ensuring Malaysia’s energy security while building an international presence and fostering partnerships to position the country as a progressive energy nation for decades to come.
