Aramco and Petrovietnam sign Collaboration Framework Agreement
Pictured at the signing ceremony standing, from left, are Le Xuan Huyen, Petrovietnam Vice President; Nguyen Manh Hung, Viet Nam Minister of Information and Communications; Dao Ngoc Dung, Minister of Labor, Invalids and Social Affairs; Tran Van Son, Minister and Chairman of the Government Office; Mohammed Y. Al Qahtani, Aramco Downstream President; H.E. Pham Minh Chinh, Prime Minister of Viet Nam; Amin H. Nasser, Aramco President & CEO; Bui Thanh Son, Viet Nam Deputy Prime Minister and Minister of Foreign Affairs; Nguyen Hong Dien, Viet Nam Minister of Industry and Trade; and Faisal M. Al Faqeer, Aramco SVP of In Kingdom Liquids to Chemicals Development. Sitting, from left, are Le Ngoc Son, Petrovietnam CEO, and Yasser M. Mufti, Aramco EVP of Products & Customers.
- Companies to explore opportunities for cooperation in storage and the supply and trading of energy and petrochemical products
- Agreement signed during official visit by the Prime Minister of Viet Nam, H.E. Pham Minh Chinh, to the Kingdom of Saudi Arabia
Aramco, one of the world’s leading integrated energy and chemicals companies, has signed a Collaboration Framework Agreement with Vietnam Oil and Gas Group (Petrovietnam). The agreement was formalised during an official visit by the Prime Minister of Viet Nam, H.E. Pham Minh Chinh, to the Kingdom of Saudi Arabia.
It paves the way for potential cooperation spanning the storage, supply and trading of energy and petrochemical products. The agreement was signed during the FII 8th Edition in Riyadh with a view to identifying potential opportunities to optimize operations and unlock additional value.
Mohammed Y. Al Qahtani, Aramco Downstream President, said: “This agreement lays the foundation for potential collaboration across the hydrocarbon value chain. We look forward to exploring multiple opportunities with Petrovietnam that complement Aramco’s global downstream ambitions, contribute to Petrovietnam’s own strategy, and reinforce Asia’s importance in global energy and petrochemicals markets.”
Le Ngoc Son, Petrovietnam CEO, said: “The signing of the Collaboration Framework Agreement between Petrovietnam and Aramco is a strategic step, which is evidence of the strong cooperative relationship between Petrovietnam and Aramco in particular, and between the Socialist Republic of Viet Nam and the Kingdom of Saudi Arabia in general.”
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