22-Jan-2013 - BASF SE

PETRONAS and BASF terminate Heads of Agreement for joint project in Pengerang

BASF and PETRONAS announced that the Heads of Agreement (HoA) between the two parties for a joint speciality chemicals venture within PETRONAS’ Refinery & Petrochemical Integrated Development (RAPID) project in Pengerang, Johor, has been terminated by mutual agreement.

The HoA was signed on March 5, 2012, for a proposed partnership to jointly own, develop, construct and operate production facilities for a host of specialty chemical products in RAPID.

Following negotiations, PETRONAS and BASF concluded that it would be in their mutual interest to terminate the HoA as both parties were unable to come to an agreement on the terms and conditions for the implementation of the proposed venture.

Notwithstanding this decision, both PETRONAS and BASF are committed to continuing their existing long-term partnership at BASF PETRONAS Chemicals in Gebeng Industrial Zone, Kuantan, Pahang.

Facts, background information, dossiers
  • BASF
  • Petronas
  • Malaysia
More about BASF
More about Petronas
  • News

    Perstorp to be acquired by PETRONAS

    Perstorp Group said that it is to be acquired by PETRONAS Chemicals Group Berhad (PCG). PCG announced that it has signed a Securities Purchase Agreement on 14 May 2022 to acquire the entire equity interest in Perstorp Holding AB. The agreement was signed with Financière Forêt S.à.r.l, a com ... more

    BASF and PETRONAS to build 2-Ethylhexanoic acid production plant

    BASF and PETRONAS Chemicals Group Berhad (PCG) will build a new world-scale production plant for 2-Ethylhexanoic Acid (2-EHAcid) at the site of their existing joint venture, BASF PETRONAS Chemicals, in Kuantan, Malaysia. The construction of this plant, which will be the first of its kind in ... more

    PETRONAS and Evonik Industries sign Letter of Intent for projects in Rapid Project

    PETRONAS and Evonik Industries AG signed a Letter of Intent (LOI) to jointly embark on the development of production facilities of specialty chemicals within PETRONAS’ Refinery & Petrochemical Integrated Development (RAPID) project in Pengerang, Johor. Under the LOI, the two parties will en ... more