Malaysia's Petronas strengthens presence in Sudan by taking stake in refinery
AFX News Limited
Malaysia's Petronas strengthens presence in Sudan by taking stake in refinery
08.29.2005, 11:41 PM
KUALA LUMPUR (AFX) - National oil corporation Petroliam Nasional Bhd (Petronas) said it has strengthened its presence in Sudan by entering into the downstream refining business there.
In a statement, Petronas said its unit Petronas International Corp Ltd has agreed to take up a 50 pct interest in new Port Sudan Refinery Project, thus officially expanding its entry into the downstream business in the country following its acquisition of the entire retail assets of Mobil Oil Sudan Ltd in March 2003.
The remaining 50 pct in the port refinery is held by Sudan's Ministry of Energy and Mining.
Petronas said it and the ministry will jointly invest, develop and operate the export-oriented refinery.
It said the new refinery project located at Port Sudan, which is the only entry port in the country, is a high technology complex refinery with a total capacity of 100,000 barrels per day.
'It is an export refinery designed to process high acid crude that will add value to the Dar Blend from Sudan Melut Basin Blocks 3 and 7 where Petronas has a 40 pct equity interest,' it said.
It added that the production will meet the growing demand of petroleum products in Sudan and neighbouring countries under the Common Market of East and South Africa (COMESA) once it is fully operational by early 2009.
- Database Search
- Unpaid Debt A comprehensive overview of the role of the Lundin Consortium in the oil war. ECOS calls upon the Swedish, Austrian and Malaysian governments to investigate whether, as a matter of international law, Lundin, OMV and Petronas 'were complicit in the commission of war crimes and crimes against humanity by others during the period 1997-2003.’ In response, the Swedish Public Prosecutor for International crimes opened a criminal investigation into ‘links between Sweden and the reported crimes’.
- In Depth For more specific information about the Lundin court case please visit the Unpaid Debt dossier.
