Petronas eyes BP refining stake

Petronas eyes BP refining stake

KUALA LUMPUR: Petronas, Malaysia's state-owned oil and gas
company, is interested in buying BP PLC's stake in Singapore
Refining Co., Petronas' chief executive said Monday.

"Yes, if the opportunity exists, we'd be interested to do
something," Hassan Marican, Petroliam Nasional Bhd.'s chief, told
reporters on the sidelines of an oil and gas conference in Kuala
Lumpur.

BP, one of the world's largest petroleum and petrochemicals
companies, has been seeking buyers for its 30 percent stake in
Singapore Refining since 2000. There is speculation it is in
talks with potential bidders including Singapore Petroleum Co.,
Oman Oil Co. and Indonesia's state-owned Pertamina.

Singapore Refining operates a 285,000-barrel-a-day refinery in
the city state's Jurong Island. Singapore Petroleum Co. holds a
40 percent stake while Caltex Corp. holds a 30 percent stake in
the company.

Marican also said Petronas is continuing negotiations with
Pertamina and ExxonMobil Corp. on developing natural gas from the
East Natuna field in Indonesia.--AP