Rosneft, Petrovietnam eye refining collaborations
Sechin and Nguyen Xuan Son, the chairman at Vietnam Oil & Gas, met in Moscow and talked about possible joint exploration, output and refining projects, Rosneft said today.
By STEPHEN BIERMAN
OAO Rosneft head Igor Sechin met with the chairman of Vietnam
Oil & Gas Group to discuss cooperation in refining
as the Russian oil
producer looks at adding fields off the Asian countrys
Sechin and Nguyen Xuan Son, the chairman at Vietnam Oil &
Gas, met in Moscow and talked about possible joint
exploration, output and refining project
s, Rosneft said today in a
statement on its website.
Rosneft has been building ties with Asia since its 2006
initial public offering, signing a $270 billion, 25-year
supply agreement with China in 2013. The Kremlin-controlled
company, which gained Vietnamese natural gas producers with
the purchase of TNK-BP last year, is seeking to reduce
dependence on western markets as Russias ties with the
US and the Europe
Union sour over the
conflict in Ukraine.
PetroVietnam is a strategic partner for Rosneft,
Sechin said in the statement.
Rosneft and PetroVietnam also discussed supplying Russian oil
to PetroVietnams Dung Quat refinery
and potential cooperation
on modernizing the plant, according to the statement.
Rosneft is in talks to buy Chevrons stake in gas fields
off southern Vietnam for about $200 million, PetroVietnam CEO
Do Van Hau told Bloomberg in an interview on Aug 22.
PetroVietnam, Japans Mitsui & Co. and
Thailands PTT Exploration & Production are partners
in the Chevron project
and have the first option
on any stake up for sale, Hau said.