Saudi Aramco and Petronas will continue to explore strategic cooperation following the share transfer.

Saudi Aramco, a leading global integrated energy and chemicals company, and Petroliam Nasional Berhad (Petronas) announced today the signing of an agreement to transfer Saudi Aramco’s shares in Pengerang Refining Sdn Bhd and Pengerang Petrochemical Company Sdn Bhd (collectively, “PrefChem”), located in the Pengerang Integrated Complex in Pengerang, Johor, Malaysia, to Petronas. Subject to customary closing conditions, the transfer will make PrefChem a wholly owned and operated subsidiary of the Petronas Group.

Petronas’ full ownership of the Prefchem project enables it to enhance operational compatibility and flexibility across its value chain, leveraging its international supply network and integrated operating model to ensure continued reliability in changing market conditions. This transaction also supports Saudi Aramco’s efforts to develop its downstream refining, chemicals, and marketing portfolio, providing the company with greater flexibility to pursue investments aligned with its sector strategy.

The deal was concluded on mutually agreed terms, reflecting the evolving strategic priorities of both parties. Saudi Aramco and Petronas will work closely together to explore post-transfer commercial arrangements, including coordinating crude oil supplies, sharing technology, and integrating product distribution, building on their decades-long partnership.

Saudi Aramco and Petronas will continue to focus on achieving operational excellence and sustainable value for shareholders and the communities in which they operate.

For contact :

Relations   Media:   media.inquiries@aramco.com  

@saudi_aramco

About Saudi Aramco:

Saudi Aramco is a leading integrated global energy and chemicals company. Our global team continues to make an impact across all our businesses, from supplying the world with vital oil to developing new energy technologies. Saudi Aramco is committed to the reliability and sustainability of its resources, which helps drive growth and productivity worldwide. https://www.aramco.com/ar

About Petronas:

As a global energy and solutions partner, Petronas strives to achieve its goal of enriching lives for a sustainable future. With a presence in more than 100 countries, the Group continues to expand its portfolio, which includes conventional and clean energy solutions, along with a diverse range of fuels, lubricants, and petrochemical products. While ensuring sustainable practices across all its operations, Petronas is committed to ensuring fair and equitable outcomes in the transition to a low-carbon future.

For more information, please contact us:

Isha Lim Hoi Ne| | eshalim.hweenee@petronas.com

Nabil Basaruddin | nabil.basaruddin@petronas.com |

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