Rafizi: Is Petronas buying more expensive crude oil from Aramco?

(Updated )

Pandan lawmaker Rafizi Ramli wants to know whether Minister in the Prime Minister's Department Abdul Rahman Dahlan’s intervention in the US$7 billion deal between Petronas and Saudi Aramco had led to the former paying for more expensive crude oil from the latter.

In a press conference in Parliament today, the Pandan lawmaker cited media reports on Saudi Aramco purportedly giving up plans to ink the deal due to the belief that the project would not generate sufficient revenues.

“This means that one of the main reasons why there was no agreement between Petronas and Saudi Aramco before the intervention of (prime minister) Najib (Abdul Razak) and Abdul Rahman was due to investment returns rate determined by Saudi Aramco which Petronas did not agree with," he said...

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