Home » Mundo » Saudi Aramco, Petronas to ink $7 billion oil refinery deal

The deal was signed in Putrajaya yesterday was signed International Trade and Industry Minister Mustapa Mohamed and Saudi Arabia’s Minister of Commerce and Investment Ibrahim Abdulaziz Al-Assaf.Aramco will supply up to 70 percent of the crude feedstock requirement of the refinery, with natural gas, power and other utilities to be supplied by Petronas. “Now we have long-term crude supply security for the refinery”.Petronas president and group chief executive officer Datuk Wan Zulkiflee Wan Ariffin said the partnership will bring together two strong organisations in developing mega projects as well as having commercial networks in different markets globally.”We started negotiations three years ago and we saw it (Rapid) as a very significant project”. Roger Federer wins opener at Dubai Tennis Championships
Murray was speaking after progressing to the second round of the Dubai Duty Free Championships with a straight-sets win over Malek Jaziri. “When news first broke out (that Saudi Aramco had withdrawn), we didn’t want to elaborate because we were preparing the agreement”.”From the Aramco standpoint, this is a final investment decision (on RAPID)”.”We would like to thank the Saudi government for the facilitation given to Malaysian companies and hope that it will continue as our companies continue to participate in Saudi’s National Transformation Programme 2020 and the Vision 2030″, Mustapa added.The complex will be alongside an existing oil storage site at Pengerang in Malaysia’s southern state of Johor.In a joint statement, they said this partnership marks the beginning of a strategic, mutually beneficial relationship providing RAPID with high-impact strengths and synergies from both Saudi Armaco and Petronas. How Trump’s Twitter use could help bring down NC sex offender law
Meanwhile, Louisiana and 11 other states , as well as victims’ advocacy groups have filed to support North Carolina . But this law, he contended, is a far broader denial of the fundamental right to free speech. Upon completion of the deal, Saudi Aramco and Petronas will have equal stakes in selected ventures and assets of the RAPID project within the PIC. “As for RAPID, this is a project that has been going on since 2014″, Wan Zulkiflee said.Image: Officials from Petronas and Saudi Aramco.King Salman and Prime Minister Datuk Seri Najib Razak, who held talks on a range of bilateral, regional and global issues, also witnessed the signing of the accords, Arab News reports on the statement issued by the Saudi king.”We believe this will strengthen the equity story of Saudi Aramco”.”We can offer that to more shareholders when the company is listed”, Khalid said. Aramco will go public next year, and investors will be looking for a company that has breadth in portfolio, balance, values for shareholders across the value chain. India growth rate slips to 7% in Q3 after cash ban
Current announcement of India’s growth number suggests that India would retain fastest growing economy in the world. On an average, GDP expanded 1.1 percent in 2016 after rising 1.2 percent in 2015.

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