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- Dubai gold steadies near Dh492 while global traders rethink Fed outlook
- Zain's World opens its doors in KLand for third consecutive year
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- Investcorp Capital buys US group Kanawha Scales & Systems
29/03/2018 08:00 AST
Saudi Aramco finalized a deal on Wednesday with Malaysian state energy company Petroliam Nasional Berhad (Petronas) to invest in a refinery project off Malaysia.
The Saudi oil giant agreed in February last year to buy a $7 billion stake in Petronas' Petrochemical Integrated Development (RAPID) project, but the issue was then delayed by "technical issues."
RAPID is a $27 billion project located between the Malacca Strait and the South China Sea, a conduit for Middle East oil and gas bound for China, Japan and South Korea.
The two companies said in a statement that they signed the deal on Wednesday, but did not confirm the value of Aramco's investment.
Saudi Aramco will supply
50 percent of the refinery's crude oil with an option of increasing it to 70 percent, the statement said.
The development will contain a 300,000 barrel-per-day oil refinery and a petrochemical complex with a capacity of 7.7 million metric tons a year. Refinery operations are set to begin in 2019, with petrochemical operations to follow about 6-12 months afterward.
Arab News
13/11/2025
Saudi Aramco announced the signing of 28 memorandums of understanding (MoUs) worth more than $1 billion during the 19th Middle East Corrosion Conference and Exhibition, held in Dhahran, eastern Saudi
Asharq Al Awsat
12/11/2025
Senior Aramco executives have highlighted the transformational potential of artificial intelligence (AI), its role in overcoming long-established issues related to corrosion - and possibilities it pr
Trade Arabia
05/11/2025
Saudi Aramco reported third-quarter 2025 adjusted net income of $28 billion, up slightly from $27.7 billion a year earlier, as strong operating momentum and progress on key projects underpinned perf
Arab News
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ADNOCGAS | 3.39 | 0.00 (0.00 |
| ADNOCDRILL | 5.41 | -0.01 (-0.19 |
| BAHRI | 32.02 | -0.08 (-0.25 |
| ADES | 17.05 | -0.45 (-2.58 |
| PETRORABIGH | 8.59 | -0.36 (-4.03 |
17/11/2025
Zain Kuwait announced the launch of the new season of KLand for the third consecutive year as part of its ongoing strategic partnership with the Touristic Enterprises Company (TEC). The project conti
Kuwait Times
17/11/2025
Gulf Warehousing Company (GWC) celebrated World Quality Week 2025 on November 10-14, through a series of educational, and strategic activities highlighting the company's achievements, with the partic
Gulf Times
17/11/2025
AlRayan Bank (ARB) has announced the launch of its invitation-only "Al-Qimma" Visa Infinite Privilege Credit Card, a bespoke card proposition designed exclusively for a select circle of the Bank's cl
The Peninsula
17/11/2025
Investcorp Capital, a company founded by Investcorp and listed on the Abu Dhabi Securities Exchange (ADX), today (November 15) announced that it has acquired Kanawha Scales & Systems (KSS) from Ameri
Trade Arabia
17/11/2025
National Central Cooling Company (Tabreed) has announced the results for the nine-month period ended September 30, 2025, posting a group revenue of AED1.87 billion ($509 million), up 1% year-on-year.
Trade Arabia
Financial Information Co.
Saudi Arabia