Qatar Petroleum International Mulling over US$4B Oil Refinery in Vietnam
Qatar Petroleum International (QPI), a unit of the emirate’s state-run oil company, plans to build a US$4-billion oil refinery in Vietnam, QPI Chief Executive Officer Nasser al-Jaidah said.
QPI expects to start the plant in 2015 to use Qatari liquefied petroleum gas (LPG) to produce chemicals including popypropylene for auto, footwear and plastic industries.
To prepare for its project in Vietnam, QPI has begun preliminary negotiations with the state-owned Vietnam Oil and Gas Group (PetroVietnam), Itochu Corp. of Japan and some companies in Thailand, he attributed.
Meanwhile, an anonymous official of Itochu said the Tokyo-based trading firm may join the project.
QPI will also partner with Cnooc Ltd. and a Chinese petrochemicals maker to build a US$5.8 billion plant in China’s Hainan province.
The Middle Eastern country is boosting investment in Asia as it seeks new markets for its LPG output that may double to 12 million metric tons by 2010. (Vietnam & World Economy, Bloomberg)
Tags: Qatar Petroleum International, Vietnam business news, Vietnam Petroleum, Vietnam Quatar corporation
Posted by VBN on Nov 22 2009. Filed under Int'l Cooperation, Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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