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| 13 September, 2018

Petronas-Saudi RAPID refinery to receive first oil cargo by end-Sept

Crude carrier Navarin carrying 1million barrels each of Saudi Arab Medium crude and Iraqi Basra Light crude to reach Malaysia on Sept. 20.

Image used for illustrative purposes.
Part of the new Petronas liquefied natural gas (LNG) plant in Bintulu, in the eastern state of Sarawak.

Image used for illustrative purposes. Part of the new Petronas liquefied natural gas (LNG) plant in Bintulu, in the eastern state of Sarawak.

REUTERS/STR New

SINGAPORE- A supertanker carrying the first crude oil cargo for a refinery joint-venture project between Petronas and Saudi Aramco is expected to reach Malaysia by end-September, according to trade sources and data from Thomson Reuters Oil Research and Forecast.

The very large crude carrier (VLCC) Navarin carrying 1 million barrels each of Saudi Arab Medium crude and Iraqi Basra Light crude is scheduled to reach Malaysia on Sept. 20.

The project, Refinery and Petrochemical Integrated Development (RAPID), is a $27 billion complex located between the Malacca Strait and the South China Sea, conduits for Middle East oil and gas bound for China, Japan and South Korea.

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The RAPID complex will have a 300,000-barrel-per-day refinery and petrochemical units with a capacity of 7.7 million tonnes a year. Refinery operations are set to begin in 2019, with petrochemical production to follow in six to 12 months.

(Reporting by Florence Tan; Editing by Tom Hogue) ((Florence.Tan@thomsonreuters.com; +65 6870 3497; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))