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  • Petronas to acquire Phillips 66 interest in Malaysian Refining Company
    édité le 12/11/2014 - Plus de news de "Petronas" - Voir la fiche entreprise de "Petronas"


Petronas to acquire Phillips 66 interest in Malaysian Refining Company
PETRONAS announced it has reached an agreement with Phillips 66 Asia Ltd, a subsidiary of Phillips 66, to acquire its 47 percent interest in Malaysian Refining Company Sdn Bhd (“MRC”), which will result in PETRONAS wholly owning MRC.

PETRONAS’ Datuk Wan Zulkiflee Wan Ariffin, Chief Operating Officer and Executive Vice President & CEO Downstream, said, “Our acquisition of Phillips 66’s interest in MRC will enable us to realise greater synergy between our refineries in Melaka and it will also strengthen our presence in the refining and trading businesses.”

He added PETRONAS has an excellent working relationship with Phillips 66 over the years that is expected to continue.

"Phillips 66 is pleased with the agreement to sell its share of Malaysian Refining Company to PETRONAS,” said Larry Ziemba, executive vice president of Refining for Phillips 66. "This divestiture allows us to redeploy resources to more strategic areas of our business. PETRONAS has been a strong partner over the years and we value our relationship.”

Under the terms of the agreement, PETRONAS will pay USD 635 million in cash with adjustment at completion. Both parties anticipate the transaction to be completed on 31 December 2014.

MRC was commissioned in 1998 and has a refining capacity of 170,000 barrels per day. The refinery is located in Melaka, Malaysia.

About Petronas

PETRONAS was incorporated on 17 August 1974 as the national oil company of Malaysia, vested with the entire ownership and control of the petroleum resources in the country. It has since grown from merely being the manager and regulator of Malaysia’s upstream sector into a fully integrated oil and gas corporation, ranked among the FORTUNE Global 500® largest corporations in the world.

About Phillips 66

Built on more than 130 years of experience, Phillips 66 (NYSE: PSX) is a growing energy manufacturing and logistics company with high-performing Midstream, Chemicals, Refining, and Marketing and Specialties businesses. This integrated portfolio enables Phillips 66 to capture opportunities in a changing energy landscape. Headquartered in Houston, the company has 13,500 employees who are committed to operating excellence and safety. Phillips 66 had $51 billion of assets as of March 31, 2014.


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Origine : Communiqué Petronas

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