Petronas starts submitting of the possible acquisition of BP retail assets in Sabah only at the end of August.
Petronas plans to acquire all 16 BP petrol stations in Sabah.
This acquisition, which is going to be on a willing buyer-seller basis, is an opportunity for Petronas to expand its retail businesses.
Petronas is the major company in Malasia and that district, it occupies a 36 per cent of market share.
The possible acquisition is a chance for the company to expand its niche on 10 per cent.
The rival for Petronas in this deal is Indonesia’s state oil company Pertamina, which is also interested in BP’s assets in Sabah.
The choice of the city of Helsinki is not incidental as the capital of Finland had hosted US-Soviet negotiations on the limitation of nuclear stockpiles in 1969