Kuwait Petroleum and Japan’s Idemitsu join forces to sell oil in Vietnam

Government-owned Kuwait Petroleum and Japanese oil refiner Idemitsu Kosan Co have recently obtained the Investment Registration Certificate from Vietnam to apply the Enterprise Registration Certificate for a Joint Venture Company, according to a company release.

The joint venture, as Reuters also reported, aims to sell oil products by opening fuel stations in the Southeast Asian country by early 2017 and offering wholesale or direct sales to businesses in the future.

Kuwait Petroleum and Idemitsu are two of the companies involved in developing Nghi Son Refinery, the country’s second oil refinery.

Under the venture, the Nghi Son Refinery, which is scheduled to start operations in the summer of 2017, will mainly supply the fuel needed in the joint venture's petrol stations.