It’s up To Petronas to Decide on Saudi Aramco’s Offer – PM

KUALA LUMPUR, Oct 7 — Prime Minister Tun Dr Mahathir Mohamed said it is entirely up to Petroliam Nasional Bhd (Petronas) to decide whether it wants to take part in Saudi Aramco’s initial public offering (IPO).

The Gulf energy giant was said to have approached several Asian state oil producers, including Petronas regarding potential cornerstone investments in its IPO.

“(It) depends on Petronas. Not for me (to decide),” he told a press conference at Parliament lobby here today.

Dr Mahathir was responding to a question whether the government is keen to see Petronas participating in Saudi Aramco’s IPO.

On Oct 2, Petronas said that it has yet to receive any offer to become a potential cornerstone investor in the IPO.

“Petronas, to date, has not received any offer from Saudi Aramco or its appointed representatives to become a potential cornerstone investor in the proposed IPO,” the company said.

It was reported that Saudi Aramco and its advisers had reached out to several potential investors, including China’s sovereign wealth fund, China National Petroleum Corp, and state-owned entities from the United Arab Emirates and Kuwait, as well as Canadian pension funds.


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