Anwar: Aramco and Petronas to hold investment talks in Malaysia next year

Anwar: Aramco and Petronas to hold investment talks in Malaysia next year

29 Nov 2023

Malaysia will position itself as an important hub when the world’s largest oil and gas company Saudi Aramco (Aramco) invests in the country, said Prime Minister Datuk Seri Anwar Ibrahim today.

He said Petroliam Nasional Bhd’s (Petronas) and Aramco’s board meeting is expected to be held in Malaysia next year.

“When I met with the Crown Prince of Saudi Arabia, Mohammed Salman… among the world’s largest oil and gas company Aramco, he told me about the investment in Pengerang (Johor). There is something interesting which I informed Tan Sri Mohd Hassan Marican (former Petronas president and chief executive) and Taufik (president and chief executive officer Tengku Tan Sri Muhammad Taufik Tengku Aziz).

“He (Salman) told me that he wants Aramco to invest in Pengerang with Petronas and Malaysia as an important hub for Saudi Arabia’s investment in the country and the region…. This suggestion is due to his confidence in Petronas.

“Sazali (Petronas executive vice-president, downstream, Datuk Sazali Hamzah) was also involved in the talks on how to increase their investment in Malaysia… I understand that the first board meeting of Petronas and Aramco will be held in Malaysia next year,” he told some 600 Petronas staff members during a get together session at Petronas East Coast Complex here today.

In October, during his trip to Riyadh, Saudi Arabia, Anwar said Saudi Aramco was committed to expand its facilities at the Pengerang Integrated Complex in Johor by adding petrochemical and gas downstream activities. Previously, Aramco had voiced its intention to make Malaysia the hub of Saudi Arabia’s oil and gas development in the Southeast Asian region

Also present today were Taufik, Sazali and Umno secretary-general Datuk Dr Asyraf Wajdi Dusuki.

Meanwhile, Anwar urged Petronas staff to continue upholding the highest standard of integrity saying that the country’s energy giant remained popular abroad.

“This is about proper management and good governance, and the policies have to be clear. Why Petronas can attract investors and why they want to work with Petronas.

“I was in China, recently the United States, Saudi Arabia and the United Arab Emirates… all when speaking about Petronas, gave the highest recognition towards Petronas. At times the recognition towards Petronas is higher compared to the one given to the country.

“Although the country was (in the past) embroiled with poor governance, corruption and scandals that jeopardise the country’s reputation, I am proud of Petronas for always ensuring high integrity,” he said.

Source: NST