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» » Saudi Aramco To Sign Key Pact With Petronas

JEDDAH: Saudi state oil giant Aramco and Malaysia’s national oil company Petronas are to sign an investment deal Tuesday.
Announcing it, Malaysian Prime Minister Najib Razak said Monday: “This is a significant investment and more details will be announced tomorrow (Tuesday).”
He said Aramco’s investment is a “strong vote of confidence” in Malaysia’s economy and that bilateral relations are at an “all-time high.”
Speaking to Arab News, an industry source said the agreement will strengthen Saudi Aramco’s competitive position in the Asia Pacific region where demand for growth is the highest in the world.
“This deal further underlines Saudi Aramco’s ongoing integrated downstream global strategy,” he added.-Arab News

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