Petronas signs Mercedes F1 team, Aramco rumors dismissed

The Malaysian oil giant has been a sponsor and technical partner of Mercedes since the German automaker’s return to Formula 1 in 2010.

Since then, its logos have featured prominently on Mercedes cars, and its fuel and oils have played a vital role in helping the team deliver seven consecutive F1 championship doubles.

The contract between Mercedes and Petronas has been extended several times and it is assumed that the most recent contract, which was signed in 2019, will run until the end of 2025.

Despite this agreement, rumors surfaced over the weekend that Petronas would leave Formula 1 at the end of this season and Mercedes would replace it with the Saudi Arabian oil giant Aramco as title partner from 2022.

The links were based on Aramco’s efforts to raise its profile through its sponsorship of F1 and Saudi Arabia, which is hosting its first Grand Prix this year.

Aramco’s partnership with Formula 1 already secures extensive track advertising and title rights to a number of races over the course of the season.

Valtteri Bottas, Mercedes W12

Photo by: Mark Sutton / Motorsport Images

However, it was made clear that the Petronas-Mercedes partnership will not change and the current contract will continue as before.

In a statement made on Monday on behalf of the team and the oil company: “Petronas and Mercedes have been partners in a long-term cooperation since 2010, which is mutually beneficial.

“Last year we extended our partnership for another multi-year cycle and we are proud to continue to work together to achieve excellence.”

Petronas’ involvement in F1 comes despite a change in focus to other motorsport activities as the Sepang Racing Team’s title sponsorship in MotoGP ends in 2022.

Mercedes co-owner Ineos has close ties with Aramco as they work together on projects in Saudi Arabia.

In 2019, Ineos announced a $ 2 billion investment contract in the UK that would work with French company Total to build its first plants in the Middle East.