Kuwait-backed Vietnamese refinery begins commercial operations

Kuwait Petroleum (KP) said on Tuesday its Vietnamese oil refinery joint venture had begun commercial operations.

The 200,000bpd Nghi Son Refinery and Petrochemical Complex, 180km south of Hanoi, is intended to provide stable supplies to the domestic market.

KP owns 35.1 per cent of the project alongside Japanese operator Idemitsu Kosan, with PetroVietnam holding 25.1 per cent and Mitsui Chemicals 4.7 per cent.

The co-investors have provided $4bn of the project’s $9bn investment capital.

Work on the project began in 2013.

It is expected to provide petrochemical products that will be sold across Asia.

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