Up to Petronas to decide on Saudi Aramco’s offer, says Dr M

KUALA LUMPUR: Prime Minister Dr Mahathir Mohamad said it is up to Petroliam Nasional Bhd (Petronas) to decide whether it wants to take part in Saudi Aramco’s initial public offering (IPO).

The Gulf energy giant was said to have approached several Asian state oil producers, including Petronas, to be cornerstone investors in its IPO.

“It depends on Petronas, it’s not for me (to decide),” Mahathir told reporters at the parliament lobby.

Reports stated that besides Petronas, Saudi Aramco and its advisers had reached out to several potential investors, including China National Petroleum Corp, and state-owned entities from the United Arab Emirates and Kuwait, as well as Canadian pension funds.

On Oct 2, however, Petronas said it had yet to receive any offer to become a potential cornerstone investor in the IPO.