- PETRONAS assumes full ownership of PRefChem following transfer of Aramco’s equity stakes
⁠  - Aramco and PETRONAS to continue exploring strategic cooperation following the transfer

Aramco, one of the world’s leading integrated energy and chemicals companies, and Petroliam Nasional Berhad (PETRONAS) today announced the signing of an agreement for the transfer of Aramco’s equity stakes in Pengerang Refining Company Sdn. Bhd. and Pengerang Petrochemical Company Sdn. Bhd. (collectively, “PRefChem”), located within the Pengerang Integrated Complex, Pengerang, Johor to PETRONAS. Subject to customary closing conditions, the transfer will make PRefChem a wholly owned and operated subsidiary of the PETRONAS Group.

Full ownership of PRefChem enables PETRONAS to further enhance operational alignment and flexibility across its value chain while harnessing its international supply network and integrated operating model to support continued reliability across varying market conditions. For Aramco, the transaction supports the strategic optimization of its downstream portfolio, providing the company with additional flexibility to pursue investments aligned with its downstream strategy.

The transaction was concluded on mutually agreed terms, reflecting the evolving strategic priorities of both parties. Aramco and PETRONAS will actively explore commercial arrangements following the transfer, including coordinated crude oil supply, technology exchange, and integrated product distribution, building on their multi-decade partnership.

Aramco and PETRONAS will remain focused on delivering operational excellence and sustained value for stakeholders and the communities they serve.

About Aramco

As one of the world’s leading integrated energy and chemicals companies, our global team is dedicated to creating impact in all that we do, from providing crucial oil supplies to developing new energy technologies. We focus on making our resources more dependable, more sustainable and more useful, helping to promote growth and productivity around the world.

About Petronas

Petroliam Nasional Berhad (PETRONAS) is a global energy company committed to producing and delivering energy and solutions needed to advance society responsibly and sustainably.
As Malaysia’s national oil and gas company, we safeguard and manage the nation’s hydrocarbon resources. Our aim is to maximise value through our integrated business model to meet the energy needs of the nation and our customers across the globe. Our portfolio includes oil and gas, petrochemicals, petroleum products, as well as a range of cleaner energy solutions.