Petronas Interested in BP SRC Stake

Malaysian national oil firm Petronas said it was interested in acquiring British Petroleum's stake in Singapore Refining Company (SRC).

Petronas president and chief executive Mohamad Hassan Marican said it was known that BP planned to divest its downstream assets in the region, including its one-third stake in Singapore's smallest refinery SRC.

He dismissed reports that BP had offered its SRC stake and its 316 petrol stations in Malaysia and Singapore for sale as a package to Petronas.

The Business Times last week quoted market sources as saying BP had offered to sell its retail stations and fuel terminals in the region as it wanted to focus on oil and gas production.

Petronas, Indonesia's Pertamina and the Omani government were named as among potential buyers of BP's stake in SRC but they were reportedly put off by BP's 200 million dollar asking price. Visit to

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