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.
