Kuwait: Saudi Aramco has shelved plans for a multi-billion-dollar refining and petrochemical joint venture with Petronas in Malaysia, industry sources familiar with the matter told Reuters yesterday.
The Refinery and Petrochemical Integrated Development (RAPID) at Pengerang in the state of Johor in southern Malaysia was to have had a 300,000-barrel-per-day refinery and petrochemical complex with a chemical output capacity of 7.7 million metric tonnes. Other facilities at the site, which was to have started operations in the first quarter of 2019, were to have included a liquefied natural gas (LNG) regasification terminal. The sources did not say why the project had been put on hold.
