Qatar investor to leave petrochemical project in southern Vietnam

30-Oct-15

Qatar Petroleum International has announced its plan to withdraw from a US$3.77 bln petrochemical project as part of its restructuring plan, as per Than Nien News. The group said it will leave the Long Son project in Ba Ria-Vung Tau Province, which is a joint venture between itself, PetroVietnam and Thailand’s SCG. Local authorities approved the project in July 2008, with Qatar Petroleum owning a 25% stake. The investors met in September to discuss the transfer of the stake but they failed to reach an agreement.