From the Star – Feasibility study on Rapid ready by year-end


Dateline 2011-05-14:

Petroliam Nasional Bhd (Petronas) will make its investment decision by the last quarter of next year for its proposed integrated downstream oil and gas project that has been earmarked with a capital expenditure of US$20bil (RM60bil).

It announced yesterday that it was undertaking a feasibility study for the development of a refinery and petrochemical integrated development (Rapid) in Pengerang, Johor. The announcement confirmed a breaking story by StarBiz on Wednesday.

Petronas president and chief executive officer Datuk Shamsul Azhar Abbas told a media briefing after the unveiling of the project that the feasibility study would be completed by the end of this year.

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This entry was posted on Wednesday, May 25th, 2011 at 6:00 am and is filed under engineering. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to From the Star – Feasibility study on Rapid ready by year-end

  1. Abdillah Azahari says:
    May 27, 2011 at 2:20 pm

    Considering that refining margins are low, an over-capacity of refining volume until 2016, a low spread between crude and refined products as well as the reduction in the volume of light, sweet crude, I personally think that Petronas is taking a huge gamble on this project.

    Reply

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