Construction work for the Pengerang Integrated Complex Project on a 2,526-hectare site as well as the Refinery and Petrochemical Integrated Development project in Johor, March 6, 2018. — Bernama pic
Asia School of Business assistant professor of management Dr Renato Lima de Oliveira said Petronas and Saudi Aramco were important partners in the RAPID project, where both have a substantive investment in the downstream venture, which will process Saudi Arabian oil.Through collaboration in the RAPID project, Saudi Aramco will supply 50 per cent of the refinery’s crude feedstock requirements, with an option of increasing it to 70 per cent.
Lima de Oliveira said there were still sizable risks considering the centralised decision structure of the Saudi government and fiscal needs. In early trade today, Petronas-related counters rose as it had piqued interest from local and foreign investors following its possible participation in Saudi Aramco's IPO.