Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Malaysia's Petronas, Saudi Aramco to sign agreement during Saudi King's visit

Published 24/02/2017, 10:24
Updated 24/02/2017, 10:30
© Reuters. An oil tank is seen at the Saudi Aramco headquarters during a media tour at Damam city

KUALA LUMPUR (Reuters) - Malaysia's state-owned oil firm Petroliam Nasional Bhd (Petronas) and Saudi Aramco will sign an agreement during a visit by Saudi Arabia's King Salman to Malaysia, Prime Minister Najib Razak said in a statement on Friday.

"During His Majesty King Salman's visit, we will be signing a number of new agreements and memorandums of understanding. One of these will involve two of our largest state-owned companies, Saudi Aramco and Petronas," read the statement. No further details on the agreement were given.

© Reuters. An oil tank is seen at the Saudi Aramco headquarters during a media tour at Damam city

Reuters reported earlier this week that Petronas and Aramco are expected to sign an agreement to collaborate on a 300,000 barrel-per-day oil refinery and petrochemical complex in Malaysia's southern state of Johor that is valued at $27 billion (£22 billion).

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.