Idemitsu and KPI to Establish Vietnam Oil Sales Joint Venture

Posted By: Hamid Moarefon: Tuesday, April 19, 2016In: Parts

According to reports, Idemitsu Kosan Co., a renowned Japanese oil refiner, and Kuwait’s state-run Kuwait Petroleum International (KPI), have recently applied with Vietnam to establish a joint venture to sell oil products in the southeast Asian country.

The two firms are involved in the construction of Vietnam’s second oil refinery, the 200,000-barrel-per-day Nghi Son facility, which is slated to kick off operations in the summer of next year.

In a statement, an Idemitsu spokesman said that the joint venture is aimed at launching fuel service stations in the country starting early next year and beginning wholesale operations or direct sales to businesses in the future. He also added that the venture would mainly get fuel supplies from the Nghi Son facility once it begins operations.

Hamid Moaref

Hamid Moaref has always been fascinated by cars and the automotive industry. His family has a longstanding association with the industry and has been in the tire business for the past 35 years. Raised in Dubai, Hamid attended Capilano University in Vancouver where he graduated with a BBA in marketing before attending an intensive course in magazine publishing in 2005. He has been the publisher and chief editor of Tires & Parts magazine for the past ten years.