Malaysia's Petronas says has no intention of buying stake in India's Bina oil refinery
5 Aug 2019 11:41 AM IST
While India remains a key market for Petronas, we have no intention of acquiring any stake in the said refinery, the company said.
The ban on pet coke may also jeopardise the much-awaited and politically controversial oil refinery in border district of Barmer.
Kuala Lumpur: Malaysian state energy firm Petroliam Nasional Bhd (Petronas) said on Monday that it was not interested in acquiring a stake in India’s Bina oil refinery.
“While India remains a key market for Petronas, we have no intention of acquiring any stake in the said refinery,” the company said in a statement.
Citing a source close to the matter, Reuters reported last week that Petronas and a consortium led by Japan’s JXTG Holdings Inc were among companies interested in buying a stake in Bina oil refinery, operated by a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp.
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