Gulf Oil and Gas accountACCOUNT

Execution of Q8's Petrochemical Complex in Vietnam in 2014

Source: KUNA 6/5/2014, Location: Middle East

Share |
Kuwait Petroleum International (Q8) will start the execution of a mega joint venture to build a refinery and petrochemical complex in Vietnam in 2014, said Q8 Chief Executive Officer Bakheet Al-Rashidi.

The project has reached an advanced stage with regard to the engineering and supplying operations, he told KUNA, expecting that production will begin in mid-2016. Al-Rahsidi, who is accompanying His Highness the Prime Minister Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah during his current visit to China, said that negotiations over participation in the project were tackled during His Highness the PM talks with Chinese officials.

He pointed out that total cost of the project could be precisely determined currently. But, it would be in the rage of USD 7-9 billion, Al-Rashidi said. The Nghi Son Refinery and Petrochemical Complex, a joint venture between Q8, PetroVietnam and Japanese companies Idemitsu Kosan and Mitsui Chemicals, will be located in Thanh Hoa Province in North Vietnam, around 200 kilometers south of Hanoi.

As Vietnam's largest oil refinery, it is expected to contribute more than 30 percent of Vietnam's demand for petroleum products. Although Vietnam is Southeast Asia's third-largest producer of crude oil, its limited number of refineries has led to an almost total reliance on imported oil products.

The new refinery will include a petrochemical complex, energy facilities, and pipeline and storage facilities. It will produce products such as gasoline, diesel, and jet fuel for the local Vietnamese market, together with other products for sale in neighboring countries.

The Q8's parent company, Kuwait Petroleum Corporation, has committed to providing 100 percent Kuwaiti crude oil for the refinery, which will have a refining capacity of 200,000 barrels per day, equivalent to 10 million tons of crude oil.

Oil Treating & Refining News in Kuwait >>

Iraq >>  2/20/2018 - Iraq has invited foreign companies and investors to bid for the construction and operation of a new 100,000 barrel per day (bpd) refinery near Mosul i...
United States >>  2/6/2018 - ExxonMobil announced that a new 1.5 million ton-per-year ethane cracker at its Baytown, Texas complex is mechanically complete with commissioning prog...

India >>  1/31/2018 - Indian Oil Corp Ltd plans to increase the capacity of its Panipat refinery by two thirds to 500,000 barrels per day (bpd) at a cost of 231.16 billion ...
Iraq >>  1/30/2018 - Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil declared the beginning of the complete rehabilitation operations for the unit Salahuddeen/2- Baij...

Iraq >>  1/29/2018 - The ministry of oil declared for the awarding of the Faw project which contains a complex for petrochemicals to Power China & Nerco Chinese Companies....
Russia >>  1/29/2018 - Lifting and installation of oversized column equipment is now complete at the construction site for a new delayed coking unit (DCU) at the Gazprom Nef...

Related Categories: Agents, Anti-foaming  Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Grout  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Summer Diesel  Surfactants 

Related Articles: Aromatic Solvents  Butene  Cleaning  Corrosion Inhibiting  Crude Oil  Diesel Fuel  Ethylene  Fluids Drilling, Completion, Workover & Stimulation  Fluids/Chemicals  Fracturing Sand  Fuel oil  Gasoline (Lead free)  General  Jet fuel  Kerosene. Domestic use  Lubricants, Oils & Greases  Nitrogen  Oil Treating & Refining  Polyethylene  Polyvinyl chloride  Propane  Sand, Sandblast  Surfactants 


Kuwait Oil & Gas 1 >>  2 | 3 | 4 | 5 |

More News

 

Oil & Gas Companies in Kuwait >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.