Malaysia’s Petronas may offer stake to Aramco in refinery project: report

Malaysia’s national oil company, Petronas, is expected in December to offer Saudi Arabian Oil Co. (Saudi Aramco) a 50 percent stake in a $21 billion refining and petrochemicals project in Malaysia’s southern Johor, Wall Street Journal reported citing unnamed sources.

 
If Petronas goes ahead with the plan, the two companies will set up a joint-venture company in the first quarter of 2017 to run the project, and the refinery project will start operations early 2019, the people said.