KUALA LUMPUR |
KUALA LUMPUR (Reuters) – Petronas is in talks with several global oil majors including Shell (RDSa.L) and Exxon Mobil (XOM.N) to develop petrochemical plants within its $20 billion refinery complex in southern Malaysia, two sources with direct knowledge of the matter said.
Malaysia’s national oil company is also talking to Japanese firms Itochu Corp (8001.T) and Mitsubishi Corp (8058.T) as well as to Dow Chemical Co (DOW.N) — the largest U.S. chemical maker — as it seeks to tap surging Asian demand and diversify its earnings, the sources told Reuters.
Petronas PETR.UL is expected to make a decision on the partnerships by mid-2012, which signals it is quickly moving beyond the feasibility stage of the project.
“Petronas is getting a lot of interest for the joint venture undertakings,” said one source who declined to be identified as the talks are ongoing.
“They have moved to the basic engineering and design stage and after this the tendering process for building the
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