NewOcean Energy to Build a Refinery in Malaysia

Hong Kong NewOcean Energy Holdings Limited announced this week that it would invest around 1.2 billion USD to build a refinery in Malaysia with Kuantan Port Consortium Sdn Bhd and East Coast Economic Region Development Council of Malaysia.

Kuantan Port enjoys advantages in exporting to China, South Korea, Japan, Australia and Association of Southeast Asian Nations. The oil and gas handling capacity of Kuantan Port will improve on the construction of the new refinery.