Venezeula, Vietnam to study joint projects

Venezuela and Vietnam signed a petroleum cooperation agreement to assess jointly developing oil and gas assets and building a refinery and storage facilities in Vietnam, Petroleos de Venezuela SA said.

Aug. 4, 2006

By OGJ editors
HOUSTON, Aug. 4 -- Venezuela and Vietnam signed a petroleum cooperation agreement to assess jointly developing oil and gas assets and building a refinery and storage facilities in Vietnam, Petroleos de Venezuela SA said.

PDVSA issued a statement Aug. 2 saying it would look into the possibility of supplying state-owned Petrovietnam with oil. Specifically, the agreement mentioned heavy oil from the Orinoco belt.

Venezuelan President Hugo Chavez visited Vietnam in late July.