Middle East Group Plan $1.4bn Malaysian Investment

A group led by Gulf Petroleum Ltd Qatar says it is planning to invest up to $1.4bn in Malaysian oil and gas.

The group, which includes investment and banking firms from Saudi Arabia, Kuwait, Bahrain and the United Arab Emirates, is eyeing investments in oil and gas and well as other industries, according to the Middle East's DPM News Agency.

It is believed the group is pursuing an option to build an oil refinery in Malaysia to utilise crude oil coming from the Middle East.

By staff writer