Petronas denies it is buying stake in Sapura
Malaysian state-owned Petronas on March 25 denied that it is in talks with the government on a proposal to pick up a stake in Sapura Energy.
“The Group has always been and will continue to be strictly guided by an established framework for any investment or divestment consideration,” the company said.
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Petronas was reacting to news reports, comments in the media and recent speculation on purported talks with the government on a proposal to take a significant stake in Sapura.
The state-owned energy producer said it remains committed to working closely together with the OGSE players, leveraging on their expertise and capability as activities increase with the industry recovering from the impact of COVID-19.
Kuala Lumpur-listed Sapura Energy is facing financial headwinds mainly due to impairments amounting to 5.4bn ringgits ($.3bn).