Petrovietnam to purchase 3.5 mln barrels of Azerbaijani oil
By Aynur Jafarova
The state-owned Vietnam Oil & Gas Group (Petrovietnam) will purchase up to 3.5 million barrels of Azerbaijan's oil in 2014 from the state energy company SOCAR.
The news was announced by the Wall Street Journal which referred to Petrovietnam's statement.
Crude oil will be mixed with Vietnam's Bach Ho crude oil for the 130,000-barrel-a-day Dung Quat refinery, which is Vietnam's sole oil-processing plant.
Petrovietnam agreed to purchase oil from SOCAR between 2014 and 2016.
SOCAR, which includes the production associations Azerneft (companies involved in the production of oil and gas onshore and offshore), Azerkimya (chemical industry enterprises), and Azeriqaz (gas distribution), is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in the domestic and international markets, and supplying natural gas to Azerbaijan's industry and public.
SOCAR owns gas stations in Azerbaijan, Switzerland, Georgia, and Ukraine, and has representative offices in Georgia, Turkey, Romania, Austria, Switzerland, Kazakhstan, Britain, Iran, Germany, and Ukraine, and trading companies in Switzerland, Singapore, Vietnam, Nigeria, and other countries.
Azerbaijan, an energy-rich South Caucasus country, produced 43 million tons of oil in 2013.
Azerbaijani-Vietnam cooperation is developing quickly.
Azerbaijan officially opened its embassy in Hanoi, Vietnam, on December 16.
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