The Malaysia Vietnam Offshore Terminal (MVOT), a joint venture between PetroVietnam Technical Services Corp and Malaysia’s MIBS Bhd, has won a US$176 million contract to provide equipment for Idemitsu Kosan to develop the Sao Vang-Dai Nguyet gas project.
Four investors have been short-listed to qualify for being strategic shareholders of the Vietnam Oil Corporation (PV Oil), PV Oil CEO Cao Hoai Duong confirmed in a meeting with shareholders on May 22.
Nam Thuan Phat Group, a electrical and mechanical engineering and metal works contractor, signed agreements on April 12 with five local and foreign partners for promoting its brand and expanding production scale.
Earlier this month Idemitsu Q8 Petroleum LLC opened its first retail outlet in Ha Noi’s Thang Long Industrial Park, marking the first time a wholly foreign-owned company has entered the fuel retail sector.
The launch of the first foreign-own petrol station last week is expected to introduce changes in Viet Nam''s fuel retail market, making it truly competitive, however, there are early warning signs.
Japanese oil firm Idemitsu Kosan Co.,Ltd (Idemitsu) and its partner
Kuwait Petroleum International Ltd. (KPI) applied to register a joint
venture company in Viet Nam to sell petroleum products.
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.