Petronas is NOT acquiring cash-strapped Sapura Energy


Let’s see if this pans out for the historic record.

Dateline 2022-03-29, Upstream Online:

Malaysia’s national oil company Petronas is not going to be acquiring cash-strapped compatriot contractor Sapura Energy, which would have brought it under the same group as rival contractor Malaysia Marine & Heavy Engineering (MMHE) and shipping giant MISC.

Referencing news reports, comments in the media and recent speculation on its purported “talks with the government on a proposal to take a significant stake” in Sapura Energy, Petronas told Upstream that it “wishes to categorically deny these reports and speculation”.

“We have always been and will continue to be strictly guided by an established framework for any investment or divestment consideration,” said Petronas.

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 )

Connecting to %s

%d bloggers like this: