Malaysia Tries to Attract Investments in Giant Refinery (XOM, RDS-A, DOW)
The national oil company of Malaysia, known as Petronas, announced plans in May to build a $20 billion oil refinery and petrochemical complex on the country’s southern border with Singapore. In addition to motor fuel, the complex will include petrochemical…
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The petrochemicals produced at the plant are targeted for sale in Asian countries such as Myanmar, Bangladesh, and parts of India where the products would be used to make goods like synthetic rubber. Petronas is expected to supply feedstock for the plants from equity investments in oil fields in Africa and Venezuela, leaving its own dwindling reserves of high-quality crude for refining into gasoline. The project is scheduled for completion in 2016.
Paul Ausick
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
