Aramco and PETRONAS announce transfer of full ownership of PRefChem to PETRONAS

Published by Ellie Brosnan, Editorial Assistant
Hydrocarbon Engineering, Wednesday, 27 May 2026 11:00

Aramco and Petroliam Nasional Berhad (PETRONAS) have announced the signing of an agreement for the transfer of Aramco’s equity stakes in Pengerang Refining Co. Sdn. Bhd. and Pengerang Petrochemical Co. Sdn. Bhd. (collectively, PRefChem), located within the Pengerang Integrated Complex, Pengerang, Johor, Malaysia, 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 optimisation 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.

Read the article online at: https://www.hydrocarbonengineering.com/refining/27052026/aramco-and-petronas-announce-transfer-of-full-ownership-of-prefchem-to-petronas/

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