August 5, 2019 / 4:03 AM / in 17 days

Malaysia's Petronas says has no intention of buying stake in India's Bina oil refinery

A car passes by a Petronas petrol station in Kuala Lumpur, Malaysia, July 31, 2019. REUTERS/Lim Huey Teng/Files

KUALA LUMPUR (Reuters) - Malaysian state energy firm Petroliam Nasional Bhd (Petronas) said on Monday that it was not interested in acquiring a stake in India’s Bina oil refinery.

“While India remains a key market for Petronas, we have no intention of acquiring any stake in the said refinery,” the company said in a statement.

Citing a source close to the matter, Reuters reported last week that Petronas and a consortium led by Japan’s JXTG Holdings Inc were among companies interested in buying a stake in Bina oil refinery, operated by a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp.

Reporting by A. Ananthalakshmi; Editing by Joseph Radford

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