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  Business   Companies  05 Aug 2019  Malaysia's Petronas says has no intention of buying stake in India's Bina oil refinery

Malaysia's Petronas says has no intention of buying stake in India's Bina oil refinery

REUTERS
Published : Aug 5, 2019, 11:41 am IST
Updated : Aug 5, 2019, 11:41 am IST

While India remains a key market for Petronas, we have no intention of acquiring any stake in the said refinery, the company said.

(Representational Image)
 (Representational Image)

Kuala Lumpur: Malaysian state energy firm Petroliam Nasional Bhd (Petronas) said on Monday that it was not interested in acquiring a stake in India’s Bina oil refinery.

“While India remains a key market for Petronas, we have no intention of acquiring any stake in the said refinery,” the company said in a statement.

 

Citing a source close to the matter, Reuters reported last week that Petronas and a consortium led by Japan’s JXTG Holdings Inc were among companies interested in buying a stake in Bina oil refinery, operated by a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp.

Tags: petronas, bina oil refinery, oman oil co, bharat petroleum corp
Location: Malaysia, Wilayah Persekutuan, Kuala Lumpur