Petronas to Develop $20 Billion Malaysia Oil, Chemicals Hub
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Petroliam Nasional Bhd., Malaysia’s state oil and gas company, will build a $20 billion refining complex bordering Singapore to benefit from increased global demand for petrochemicals and plastics.
Petronas, as it is known, will construct a crude oil refinery with a capacity of 300,000 barrels a day, a naphtha cracker, petrochemicals and polymer facilities in Pengerang, in the country’s southern state of Johor, Prime Minister Najib Razak told reporters in Kuala Lumpur today. It may also construct a liquefied natural gas import and re-gasification terminal in the area, he said.