Aramco Sells Pengerang Refining And Petrochemical Stakes To PETRONAS

2026-05-25 09:07:36

(MENAFN- Trend News Agency) BAKU, Azerbaijan, May 25. Saudi Aramco and Petroliam Nasional Berhad (PETRONAS) have signed an agreement for the transfer of Aramco's equity stakes in Pengerang Refining Company Sdn. Bhd. and Pengerang Petrochemical Company Sdn. Bhd. (PRefChem), located within the Pengerang Integrated Complex in Johor, Malaysia, Trend reports via Aramco.

Subject to customary closing conditions, the transaction will result in PRefChem becoming a wholly owned and operated subsidiary of PETRONAS.

According to the companies, full ownership will allow Petroliam Nasional Berhad (PETRONAS) to further strengthen operational integration and flexibility across its value chain, while leveraging its global supply network and integrated operating model to maintain reliability under varying market conditions.

For Aramco, the deal forms part of its ongoing strategy to optimize its downstream portfolio and increase flexibility for future investments aligned with its long-term downstream objectives.

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