PDVSA withdraws from Long Son refinery

December 1, 2009

Venezuela’s state oil company Petróleos de Venezuela SA (PDVSA) has decided to pull out of Vietnam’s third oil refinery, Long Son, in the southern province of Ba Ria-Vung Tau, said Phung Dinh Thuc, chief executive officer of Vietnam Oil and Gas Group (PetroVietnam). PetroVietnam is seeking other partners for the US$7 billion oil refinery by the end of this year, Thuc said. Foreign partners, including Petronas of Malaysia, the Abu Dhabi government-owned International Petroleum Investment Co. (IPIC), Trafigura of Singapore and GS Group of South Korea, have advanced their interest to invest in the refinery. (October 8, 2009)

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