Tuesday 22 September 2009

Kuwait plans $6 bln Vietnam oil venture

Kuwait affirmed its plans to complete a $6 billion joint venture refinery in Vietnam, Kuwait news agency KUNA said on Monday.

In a visit to Vietnam, Kuwait Oil Minister Sheikh Ahmad al-Abdullah al-Sabah and the Chief Executive of Vietnamese oil monopoly Petrovietnam Dinh La Thang "agreed to reinforce their cooperation toward success of the planned refinery", KUNA said.

The Nghi Son project is a 200,000 barrel per day refinery and a joint venture with Japanese refiners Idemitsu Kosan Co and Mitsui, Petrovietnam and Kuwait Petroleum International.

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