Welcome to PRefChem, the Petronas and Saudi Aramco joint venture
Tom KirkmanIndependent Project Manager
A warm welcome to *PRefChem* the Joint Venture between Petronas and Saudi Aramco. Great news indeed!
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“Earlier in March, Petronas and Saudi Aramco concluded the share purchase agreement for equal ownership and participation in the operations of the refinery, cracker and selected petrochemical facilities in the PIC.
Through the collaboration, Saudi Aramco will supply 50% of the refinery’s crude feedstock requirements with the option of increasing to 70%, Petronas said in a statement.
Meanwhile, natural gas, power and other utilities will be supplied by Petronas and its affiliates. The parties will share the rights to off-take the production of the JVs on an equal basis.”