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Petronas implementing a project in Malaysia pulled out {} Saudi Aramco
1/28/2017 0:00
[rtl]Although the control of the kingdom to 9.9 percent of sovereign riches of the world
capitals / follow - Sabah
State Oil Company of Malaysia 's Petronas plans to push ahead with plans to start alarge complex of refining and petrochemicals in the southeast of the country in 2019 ,despite comments by Saudi Aramco plans to enter into a partnership with them.
The integrated development of the refining and petrochemical project in the framework of complex integrated Banjiranj's Petronas and is estimated to cost about 27 billion dollars.
The project will include an oil refinery of 300 thousand barrels per day and a complex of petrochemical production capacity of 7.7 million tons per year. Well - informed sources told Reuters that Saudi Aramco has delayed plans to enter into a partnership with Petronas in this project , including raising questions about his future.
Nevertheless, Petronas said: that the project is moving ahead.
Malaysian company said in a statement sent to Reuters by e - mail: "Todd 's Petronas to clarify that its integrated Banjiranj complex will continue to be the focus of their own agendas and the growth of downstream activities in the coming years."
She added , "Despite the current slowdown in the global economy and lower oil prices ... not investment remains a priority for Petronas. "
She pointed out that Petronas is currently completing 54 percent of the project and goes on his way to enter into operation in 2019. the
statement did not include any reference to the company Saudi Aramco , the giant oil and gas.
The comment came Aramco plans for the joint venture in Malaysia at a time when it is facing Petronas difficulties because of falling oil prices.
In early 2016 Petronas said it would cut spending by up to 50 billion ringgit (11.29 billion dollars) over the next four years. The company also reduced its dividend by its disposal of the Malaysian government.
Integrated development of the refining and petrochemical complex project and Banjiranj integrated and is part of a much larger project, Integrated Petroleum Complex Banjiranj object in the state of Johor in southern Malaysia and neighboring Singapore oil trading center in Asia.
Sources: The Aramco pulled in an effort to provide liquidity prior to the first year to be put forward and to avoid undermining the profit margins of other assets owned by the company 's refining sector in Asia.
On the other hand , quoted by Russian Sputnik Arabia local "economic" newspaper that the kingdom took control of 9.9 percent of sovereign wealth of the world , valued at about $ 7.4 trillion, last November end.
The share of public investment fund Arabia and reached the total value of sovereign funds in the world last September, about 2.2 percent, and occupied ranking 13th globally, while the share of 0.5 percent in 31st place globally before lifting its assets in April 2016. The
newspaper pointed out that the Kingdom intends to become assets of public investment fund is the largest in the world, so that it is based in King Abdullah financial District, which is set by the "vision 2030 Arabia."
Monitors Sovereign Wealth Funds Institute of 79 funds, totaling $ 7.4 trillion, and tops the standings the Norwegian pension fund assets worth $ 885 billion, make up 12 percent of the total assets of sovereign wealth funds in the world.[/rtl]
[rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=130529[/rtl]
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