Vietnam : Petrolimex to Partner With Sinopec
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Thursday, 07 August 2008 |
Sinopec Corp will team up with Petrolimex in a venture to build a $4.5 billion refinery in Vietnam's central region.
Chairman Vu Ngoc Hai told local media last month that Petrolimex had picked Sinopec as its partner in the venture discussed by the two firms to build the complex, including a refinery, in Khanh Hoa province.
They have agreed to import crude oil from Singapore or the Middle East to feed the refinery, the fifth such major project in Vietnam, with an annual processing capacity of 10 million tonnes of crude, or 200,800 barrels per day.
Petrolimex has the largest share of Vietnam's retail market of oil products, all of them imported, as the country, the second-largest gas oil importer in Asia after Indonesia, still lacks refineries.
PetrolWorld 230708
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