Petronas to Take Full Control of PRefChem Venture
By Ying Xian Wong
KUALA LUMPUR, Malaysia--Malaysia's national oil-and-gas company said it is taking full control of the Pengerang Integrated Complex's refining and petrochemical operations after agreeing to acquire Saudi Arabian Oil's stake in the venture.
Petroliam Nasional, better known as Petronas, said Monday that unit Petronas Refinery and Petrochemical Corp. signed an agreement to acquire Aramco's equity stake in Pengerang Refining Co. and Pengerang Petrochemical Co., collectively known as PRefChem, located within the Pengerang Integrated Complex in Johor, Malaysia. Financial terms weren't disclosed.
The acquisition, subject to customary closing conditions, will make PRefChem wholly owned by Petronas.
As recent volatility in global energy markets underscores the need for greater operational agility, Petronas said full ownership of PRefChem would enhance its operational alignment and support Malaysia's long-term energy security and industrial resilience.
Crude supply arrangements between Petronas and Aramco under existing commercial agreements will remain unchanged, it added.
Write to Ying Xian Wong at yingxian.wong@wsj.com
(END) Dow Jones Newswires
May 25, 2026 21:57 ET (01:57 GMT)
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