Foreign Oil Giants Eye $8B Refinery in Vietnam
A growing number of foreign oil companies have their interest in Vietnam’s third oil refinery, Long Son, worth $8 billion in southern Ba Ria-Vung Tau province.
They are Petronas of Malaysia, IPIC of United Arab Emirates, Trafigura of Singapore, GS Group of South Korea, Shaw Stone & Webster International Inc. and Gannon Group of the U.S., and UK Shell of Holland.
The state-run oil monopoly PetroVietnam group is in talks with eligible partners to sign joint venture agreements in September this year.
The expected refinery, which will be located in Long Son commune, will be designed to refine 10 metric tons of crude oil annually.
The refinery is due to begin operations in 2014.
PeroVietnam will import crude oil from Venezuela to feed the refinery.
Vietnam has planned to put into operation between five and six oil refineries with a combined refining capacity of 30 million tons of crude oil a year by 2015 to meet rising domestic demand for petroleum products. (VIR)
Vietnamese
