Malaysia’s Petronas delays Pengerang restart, sees challenging year


Dateline 2021-02-26, The Straits Times:

Malaysia’s Petronas on Friday (Feb 26) delayed the launch of its Pengerang Integrated Complex until the second half of the year from the first, but dismissed rumours partner Saudi Aramco was looking to exit the US$27 billion (S$36 billion) project.

The state oil firm Petronas said it faced another challenging year after booking a RM1.1 billion (S$361 million) loss for the final quarter of 2020, its third quarterly loss in a row, though higher prices and demand for liquefied natural gas (LNG) helped.

The world’s fourth-biggest LNG exporter had earned a profit of RM4.1 billion for the October-December quarter a year earlier.

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