Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- OAB raises RO50mn through rights issue
- S&P affirms Oman's ratings at 'BBB-' with stable outlook
- Batelco by Beyon joins hands with Bahrain Chamber to empower SMEs
- Asyad Shipping expands dry bulk fleet with $209mn strategic investment
- Bahrain Bourse wins big at Euromoney Capital Markets Awards
- Kuwait Plans to Add 14,050 MW of Electricity by 2031
- $560m projects unveiled under Sheikh Zayed Housing Programme
- Iran Rial Hits Record Low Against US Dollar After Sanctions Reimposed
- Saudi Energy Ministry Launches Prequalification for Natural Gas Distribution Tenders in 5 Industrial Cities
- Kuwait turns to private sector as housing requests pile up over decades
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
19/09/2025
Saudi energy giant Aramco has raised $3 billion through a dual-tranche sukuk issuance, highlighting strong global investor confidence and reinforcing the Kingdom's standing in international Islamic f
Arab News
10/09/2025
Saudi oil giant Aramco will be executing 85 projects over the next three years, most of which are currently in the planning phase, reported MEED, citing senior company officials.
These new,
Trade Arabia
09/09/2025
Leading Indian construction and engineering conglomerate Larsen & Toubro (L&T) has completed the EPC work related to a key section of the third phase of Saudi Aramco's Master Gas System Expansion (MG
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| ABAR | 175.00 | 3.00 (1.74 |
| ADNOCGAS | 3.58 | 0.14 (4.06 |
| ADNOCDRILL | 5.75 | 0.00 (0.00 |
| BAHRI | 27.00 | 0.16 (0.59 |
| ADES | 15.92 | -0.10 (-0.63 |
29/09/2025
Oman Arab Bank (OAB) has announced the successful completion of its rights issue, through which 333,333,333 new shares were issued, raising RO50mn. Following the transaction, the bank's paid-up capi
Muscat Daily
29/09/2025
Batelco by Beyon and the Bahrain Chamber of Commerce & Industry have signed an agreement to strengthen collaboration in support of small and medium enterprises (SMEs) and enable their success within
Trade Arabia
29/09/2025
Asyad Shipping Company, a subsidiary of Asyad Group, on Sunday announced a strategic investment in the purchase of three Newcastlemax dry bulk carriers as part of its growth strategy.
The a
Muscat Daily
29/09/2025
Dr. Soliman Fakeeh Hospitals in Jeddah and Riyadh have been ranked among Newsweek's World's Best Smart Hospitals 2026, a recognition that affirms their leadership in digital healthcare innovation and
Saudi Gazette
29/09/2025
QNB has been recognised by Global Finance magazine as one of the best in digital banking, winning two prestigious awards such as Best Mobile Banking App and Best in Social Media Marketing and Service
The Peninsula
Financial Information Co.
P.O. Box 69410, Jeddah 11547, Saudi Arabia