KUALA LUMPUR (July 26): Malaysia’s national oil-and-gas company Petroliam Nasional Bhd, or Petronas, said it has reached the final investment decision with its partners to develop a biorefinery at the Pengerang Integrated Complex in Johor.

Petronas, Italian supermajor oil company Eni SpA and Japanese biotech firm Euglena Co Ltd will establish a joint venture company to build and operate the biorefinery, Petronas said in a statement. Petronas and Eni will be the largest shareholders, the company said without detailing the shareholding.

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