Sinopec seeks cooperation with PetroVietnam

Leaders of China Petroleum & Chemical Corporation (Sinopec) and Vietnam Oil and Gas Group (PetroVietnam) on November 24 discussed future cooperation between the two corporations.

Speaking at the meeting, Sinopec’s Vice President and CEO Wang Tian Pu expressed his hope to cooperate with PetroVietnam in extracting oil and gas and building oil refineries and petrochemical plants.

Mr. Pu expressed SINOPEC’s willingness to supply crude to the Dung Quat Oil Refineries and to buy crude from the Bach Ho well for Sinopec’s high-grade petrochemical production.

PetroVietnam’s chairman Dinh La Thang signaled his readiness for cooperation that is based on respect for state sovereignty.

Sinopec can become one of PVN’s foreign partners, buy Dung Quat Oil Refinery shares when the plant is equitised and supply crude oil for the plant, Mr. Thang added.

PetroVietnam’s PVOil and SINOPEC’s Universal Plastic & Engineering Company signed a memorandum of understanding after the meeting.

Tags: Vietnam business news, Vietnam Petroleum