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Petronas

Malaysian national oil company Petronas reached an agreement with Phillips 66 Asia to acquire its 47% interest in the Malaysian Refining Company (MRC) for USD 635 million in cash, with adjustment at completion. Upon closing of the transaction, Petronas will own 100% interest in MRC, which has a refining capacity of 170,000 B/D and is located in Melaka, Malaysia.


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