The Viet Nam National Petroleum Group (Petrolimex) is accelerating
negotiations with its strategic Japanese investor, JX Nippon Oil and
Energy, to sell 15-25 per cent of its stakes through a share issue to
raise charter capital.
A memorandum of understanding was signed between JX Nippon Oil &
Energy Corp and the Viet Nam National Petroleum Group (Petrolimex) late
last week in Ha Noi.
Three companies on August 20 announced the discovery of gas and
condensate in the fourth well in Blocks 05-1b and 05-1c off the southern
Viet Nam coast.
JX Nippon Oil and Energy Viet Nam yesterday inaugurated the operation of
a lubricant factory in the petrochemical area in northern Hai Phong
City''s Dinh Vu Industrial Zone (IZ).