Idemitsu Kosan renews commitment in proposed refining and petrochemical JV with Kuwait and Vietnam

Contrary to recent reports, Japan’s leading refiner Idemitsu Kosan has renewed its commitment to actively engage in a proposed refining and petrochemical joint venture with Kuwait and Vietnam yesterday. Partners in the project include Kuwait Petroleum Corporation (KPC), its subsidiary Kuwait Petroleum International (KPI), PetroVietnam and Mitsui Chemicals Incorporated. KPI and Idemitsu each own a 35.1% in the JV, while PetroVietnam and Mitsui Chemicals Inc. own 25.1% and 4.7% stake respectively. An attempt is underway to speed up an international bidding process on engineering, procurement and construction for the US$6 bln Nghi Son Petrochemical Refinery Complex, scheduled to commence operation on 2014. The refinery will have capacity to treat 200,000 bpd of crude oil, which will be 100% provided by Kuwait. The refinery will cater to 60% of Vietnam's domestic consumption, with capacity scalable to 400,000 bpd, to meet growing demand.
  More News  Post Your Comment
{{comment.Name}} made a post.




There are no comments to display. Be the first one to comment!


Name Required.


Email Id Required.

Email Id Not Valid.


Mobile Required.

Email ID and Mobile Number are kept private and will not be shown publicly.

Message Required.

Click to Change image  Refresh Captcha
Reclamax single step plastic recycling machine

Reclamax single step plastic recycling machine