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Russia’s Gazprom Neft, PetroVietnam to increase cooperation

by ChemOrbis Editorial Team - content@chemorbis.com
  • 08/04/2015 (14:40)
According to media reports, Russia’s Gazprom Neft and PetroVietnam have signed a memorandum to increase cooperation between the two companies on oil and gas exploration, production and development projects. The estimated financial value of the agreement was not disclosed. The two companies reportedly will announce further details of the agreement by October 2015.

In addition, Gazprom Neft also reported that they are planning to acquire a 49% stake in Vietnam’s Dung Quat refinery. Under the proposed agreement, Gazprom Neft will have exclusive rights to negotiate and acquire Petrovietnam’s shares in the refinery during the period projected in the agreement. The refinery is owned by Binh Son Refining and Petrochemical Company.
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