Petronas says has no intention of buying stake in India’s Bina oil refinery


Petronas says has no intention of buying stake in India’s Bina oil refinery

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. Read More

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