PETRONAS Denies Plans to Sell Upstream Assets to Russian Party

Malaysia's national oil company (NOC) Petroliam Nasional Berhad (PETRONAS) denied Wednesday that it has held or is holding discussions regarding the sale of upstream assets or stakes in such assets to any Russian party.

"PETRONAS refers to a number of recent press reports originating from Russia on purported discussions for the disposal of specific PETRONAS 'assets' and 'stake'," the firm said in the press statement.
 
"We wish to clarify that PETRONAS has not been and is currently not in discussions with any Russian party for the abovementioned purpose."

PETRONAS' comments follow remarks by Russian Energy Minister Alexander Novak May 20 that state-owned Zarubezhneft was considering the purchase of upstream assets from the Malaysian NOC, Reuters reported Wednesday.



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