A refinery jointly-owned by Saudi Aramco and Malaysian state-owned Petronas will receive its first cargo of oil by the end of September, Reuters reported.
The very large crude carrier (VLCC) Navarin is carrying 1 million barrels each of Saudi Arab Medium crude and Iraqi Basra Light crude, and is scheduled to reach the Malaysian refinery on September 20.
The Refinery and Petrochemical Integrated Development (RAPID) project is a $27 billion complex built between the Malacca Strait and the South China Sea. The complex acts will act as an important node for Middle Eastern oil and gas heading towards China, Japan and South Korea.
The RAPID complex is expected to have a refining capacity of 300,000 b/d and petrochemical units of 7.7 million tons a year once it begins operations on 2019. The petrochemical production is expected to start from six to 12 months after refining begins.