Released March 11, 2020 | SUGAR LAND
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Petronas and Saudi Aramco's joint venture RAPID (Refinery and Petrochemical Integrated Development) has delayed commercial operational runs at its Pengerang Integrated Complex in Johor, Malaysia, to the third quarter of 2020. The decision follows a series of disruptive global factors, including an ongoing oil glut, an oil price war between Russia and Saudi Arabia, and the COVID-19 coronavirus.
Vitol's neighboring refinery at its oil-storage terminal in Johor also expects to delay commercial operations until the third quarter. Vitol plans to refine and sell low-sulfur fuel oil from the facility that meets the International Maritime Organization's (IMO) 2020 standards of less than 0.5% sulfur.
Despite all the volatility, both of the export-oriented refineries maintain a bullish view, citing their proximity to big markets like China, India and other Southeast Asian countries.
Industrial Info is tracking more than $11 million worth of projects in Malaysia's Petroleum Refining Industry that are set to kick off through the end of the third quarter. Click here for a list, and see map below.
Vitol's neighboring refinery at its oil-storage terminal in Johor also expects to delay commercial operations until the third quarter. Vitol plans to refine and sell low-sulfur fuel oil from the facility that meets the International Maritime Organization's (IMO) 2020 standards of less than 0.5% sulfur.
Despite all the volatility, both of the export-oriented refineries maintain a bullish view, citing their proximity to big markets like China, India and other Southeast Asian countries.
Industrial Info is tracking more than $11 million worth of projects in Malaysia's Petroleum Refining Industry that are set to kick off through the end of the third quarter. Click here for a list, and see map below.
