Aramco Agrees to Sell Its PRefChem Stake to PETRONAS
CONFIRMED86% CONFIDENCEStated as firm, per petronas.com[4]: "KUALA LUMPUR, 25 May 2026 - PETRONAS announces that its subsidiary ... has signed an agreement to acquire the equity stake held by Saudi Arabian Oil Company"; Aramco's[1][2] own newsroom dates the joint announcement May 24, 2026.
Aramco signed an agreement to transfer its stakes in the PRefChem refinery and petrochemical complex at Pengerang, Johor to PETRONAS, which will own and run it outright. Aramco committed $7 billion to the 300,000 b/d project in 2017; the sale comes as the Strait of Hormuz closure cut Saudi crude flows to Asia.
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