Petronas to start offering oil products from new refinery in April

April 26, 2019

Dateline 2019-03-13, Reuters:

Malaysia’s state energy firm Petronas expects to start offering oil products from its new refining-petrochemical complex in April as the project moves toward full commercial production in October, a senior company official said.

The initial products would not meet commercial specification yet as trial runs are still under way, Arif Mahmood, Petronas’ executive vice president and CEO of downstream, said on the sidelines of the CERAWeek energy conference in Houston.


Analysis: Malaysia’s RAPID to boost Asia’s product supply and Saudi crude oil flows

February 11, 2019

Dateline 2019-01-23, S&P Global:

The start-up of the 300,000 b/d Refinery and Petrochemical Integrated Development, or RAPID, project in Malaysia will boost Asia’s refining capacity growth in 2019, increase Saudi crude inflows to the region and add to the supply of refined petroleum products.

The RAPID facility, operated by Pengerang Refining and Petrochemical or PRefChem, a joint venture between state-run Petronas and Saudi Aramco, is among the largest greenfield oil refineries to start operations in Southeast Asia in recent years, supplementing the existing refining hub in adjacent Singapore.


Malaysia’s RAPID project receives first crude oil cargo

November 23, 2018

Dateline 2018-09-26, O&GJ:

The jointly held Saudi AramcoPetronas $27-28-billion Pengerang Integrated Complex (PIC) in southeastern Johor, Malaysia, has received its first delivery of crude oil at Pengerang Deepwater Terminal 2, marking the transition into the commissioning phase for startup of the 300,000-b/d refinery and petrochemical integrated development (RAPID) project (OGJ Online, Mar. 29, 2018).

Pengerang Refining & Petrochemical (PRefChem)—an alliance of Petronas and Aramco that includes the two joint ventures Pengerang Refining Co. Sdn. Bhd. and Pengerang Petrochemical Co. Sdn. Bhd.—received a cargo of 2 million bbl of crude supplied by Petronas and Aramco on Sept. 24 that will be used for commissioning and testing activities at the refinery, which are scheduled to begin in October, Aramco said.


Aramco plans to ship first crude oil to Malaysia JV refinery in Oct

November 19, 2018

Did they ship?

Dateline 2018-09-04, Nasdaq:

Saudi Aramco plans to deliver the first crude oil cargo to its joint-refinery project with Petronas in Malaysia in October as the companies prepare for trial runs at the new plant, several sources with knowledge of the matter said on Tuesday.

The project, Refinery and Petrochemical Integrated Development (RAPID), is a $27 billion complex located between the Malacca Strait and the South China Sea, conduits for Middle East oil and gas bound for China, Japan and South Korea.


Malaysia’s Petronas, Aramco to finalize RAPID deal after resolving ‘technical issues’: Bernama

December 17, 2017

Dateline 2017-11-03, Reuters/Bernama:

Malaysian state energy company Petronas and Aramco are facing “technical issues” in finalizing the Saudi oil major’s $7 billion investment in a refinery project, but the deal will be completed soon, state news agency Bernama reported on Friday.

The government “is giving room to Petronas and Saudi Aramco to resolve several technical issues related to the investment agreement,” Bernama reported, citing Abdul Rahman Dahlan, a minister in the Malaysian prime minister’s office.


What’s the deal in RAPID?

April 15, 2017

Dateline 2017-03-04, The Star:

Tan Sri Shamsul Azhar Abbas, then president and CEO of Petroliam Nasional Bhd (Petronas), played host to several key personnel from Saudi Arabia’s state-owned oil company Aramco when they visited Malaysia.

He hired several helicopters, taking the group to get an aerial view of the upcoming 22,000-acre Pengerang Integrated Petroleum Complex (PIPC) in Johor in the hope of convincing them about the huge potential of the development.

According to an industry insider, Shamsul was hoping to replicate the business model adopted by Canada’s oil giant Progress Energy Resources Corp – which is famed for having a successful strategy in diversifying risk and improving the viability of its projects by paring down stakes in its 100%-owned projects to other significant oil players – on Petronas’ projects in Pengerang.

So, after showering the Aramco’s people with some Malaysian hospitality, the insider says, Shamsul began to share his vision for Petronas’ Refinery and Petrochemical Integrated Development, or Rapid, project.


Malaysia’s Petronas says RAPID project on track for 2019 start-up

February 26, 2017

Dateline 2017-01-26, Yahoo! Finance:

Malaysia’s state oil firm Petroliam Nasional Berhad said on Thursday its new $27 billion refining and petrochemical complex project in the southeast Asian country is on track for start-up in 2019.

Sources familiar with the matter told Reuters on Wednesday that Saudi Aramco had shelved its plans for a partnership with the company, known as Petronas, on the Refinery and Petrochemical Integrated Development (RAPID) project, raising questions about its future.

RAPID, located within the Pengerang Integrated Complex in the southern Malaysian state of Johor, is designed to have a 300,000-barrel-per-day oil refinery and a petrochemical complex with a production capacity of 7.7 million metric tonnes.