Oil majors to put off investment decisions in Pengerang till after 2019?

A bird-eye's view of tanks and jetty structure at the Pengerang Deepwater Petroleum Terminal (PDPT). The price of land in Pengerang, Johor, could have appreciated by more than 800% within the space of two years.

KUALA LUMPUR: Oil majors are only expected to commit investments in the Pengerang Integrated Petroleum Complex (PIPC) after 2019.

This is because the oil majors, who form the bulk of investors, are adopting a “wait-and-see” stance before committing to major investment decisions.