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Malaysia's Petronas unit in JV to set up oil terminal


September 26, 2008

Malaysia's Petronas unit in JV to set up oil terminal
Malaysia's Petronas Dagangan, the retail arm of state oil company Petronas, has taken up a stake in a petroleum storage terminal project in Sarawak on Borneo, Reuters quoted the company as saying.

The Malaysian firm said it would own 20 percent of a joint venture set up to undertake the Central Oil Distribution Terminal project, but it did not disclose financial details.

"Petronas Dagangan's participation in the joint venture will further strengthen Petronas Dagangan's strategic logistic network to supply petroleum product in the central region of Sarawak," it said in a filing with stock exchange Bursa Malaysia.


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