Russian state oil and gas firm Zarubezhneft may buy Petronas' assets, said Russian Energy Minister Alexander Novak.
Novak said Russia is also looking at increasing oil and oil products to Asia-Pacific region. The parties are holding consultations about it," he is reported as saying on Friday by Russian news agency Tass. "As for Zarubezhneft, it is studying opportunities to undertake projects in Malaysia.
"Zarubezhneft has a lot of experience to enhance the effectiveness of existing fields, and offers its services and participation," Novak is quoted as saying. Novak did not specify which assets Zarubezhneft are looking at. He said this at the Asean-Russia Commemorative Summit in Sochi on May 20. Prime Minister Najib Abdul Razak attended the two-day summit.
"Petronas will continue with its cost rationalisation efforts to remain competitive while pursuing efforts to drive operational efficiencies and effective delivery of growth projects that bring value," it said in a press statement last week.
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