Malaysia: Petron Plans to Invest in ExxonMobil
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Friday, 13 January 2012 |
Petron Corporation has said that it plans to invest in ExxonMobil’s retail operations in Malaysia. The country’s largest refiner and retailer confirmed its intentions in a statement to the Philippine Stock Exchange, but did not elaborate on the planned investment.
Company President Eric Recto (pictured), speaking to reporters, said that the transaction was still to be determined. “We will disclose when we (have) finalised,” he added. Petron’s parent company, San Miguel, bought Exxonmobile’s 65% stake in Esso Malaysia for $610m. Petron already controls 1,800 fuel service stations across Malaysia.
PetrolWorld 13012012
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