Saudi Aramco shelves plans for Malaysia venture with Petronas

A logo of a Petronas fuel station is seen against a darkening sky in Kuala Lumpur, Malaysia. Picture taken February 10, 2016. REUTERS/Olivia Harris

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 on Wednesday.

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.

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