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PetDag to exit Philippines LPG business

Mimi Sabreena 11:07:00 PM Informasi

KUALA LUMPUR (May 24): Petronas Dagangan Bhd (PetDag), the principal marketing arm of Petroliam Nasional Bhd, has found a buyer for its business in the Philippines, which will mark its exit from liquefied petroleum gas (LPG) business there which it first entered into in year 2012.

PetDag announced today that its wholly-owned unit, PDB (Netherlands) BV (PDBN), has inked a Memorandum of Understanding (MoU) with Phoenix Petroleum Philippines Inc to divest of its entire equity interest in Petronas Energy Philippines Inc, along with its remaining 40% stake in Duta Inc.

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