Petronas to Buy Phillips 66’s Stake in Malaysia Refinery


Now I know why there are Phillips 66 people in KL

Dateline 2014-11-11, Morning Star:

Malaysia’s state oil and gas company Petroliam Nasional Bhd., or PETRONAS, said Wednesday it has agreed to buy out the remaining 47% in Malaysian Refining Company Sdn. Bhd. held by Phillips 66 (PSX) for around $635 million.

The acquisition is expected to be completed by year-end, Petronas said in a statement. MRC mainly processes sour middle east crude oil and has a refining capacity of 170,000 barrels per day at its refinery in the western Melaka state.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: