Malaysia's Petronas confirms new seizure orders on Luxembourg units

Malaysian state energy firm Petronas on Thursday confirmed new seizure orders had been issued against two of its entities in Luxembourg and their parent, following a bid by descendants of a former sultanate to enforce a $15-billion arbitration award.

The action by the Filipino heirs of the last Sultan of Sulu is baseless, Petronas said in a statement, adding that it will continue to defend its legal position.

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