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Business
Petronas Files For Chemical Stock Offer
by Alexander H. Tullo
September 13, 2010
| A version of this story appeared in
Volume 88, Issue 37
The petrochemical and fertilizer arm of Petronas, Malaysia’s national oil company, has filed for an initial public offering of stock. For the fiscal year that ended on March 31, the business generated operating profits of $1.0 billion on revenues of $3.9 billion. In recent years, Petronas has been consolidating its far-flung and relatively autonomous chemical businesses into a single company. Last year, the company purchased Dow Chemical’s interest in the Optimal glycols joint venture. It is also buying BP’s interests in olefins and polyethylene joint ventures.
The power is now in your (nitrile gloved) hands
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