Petrolimex in discussion with PetroChina over pipeline project

Vietnam National Petroleum Corp. (Petrolimex) said it is in discussions with PetroChina Co. (PTR) on the possibility of jointly building an oil pipeline. If an agreement is reached, the most likely route for the pipeline is from PetroChina’s Qinzhou refinery in Guangzi Zhuang region to Quang Ninh province in Vietnam. The pipeline is expected to cost approximately US$212 million, with construction being completed by 2014. A company statement said, “The pipeline project is aimed at boosting ties between Petrolimex and PetroChina and securing a stable, long-term oil-product supply source for Vietnam’s northern region with the most competitive price.” The pipeline in Vietnam is expected to run over a distance of up to 225 km or 140 miles. (July 11, 2011)