Aramco, Petrovietnam Sign Agreement to Boost Energy Partnership

The Saudi Arabian Oil Group (Aramco) signed a Collaboration Framework Agreement with Vietnam Oil and Gas Group (Petrovietnam). A press release issued by Aramco states that the agreement paves the way for potential cooperation spanning the storage, supply and trading of energy and petrochemical products, Saudi Press Agency (SPA) reported. Aramco Downstream President Mohammed Al Qahtani commented: "This agreement lays the foundation for potential collaboration across the hydrocarbon value chain. We look forward to exploring multiple opportunities with Petrovietnam that complement Aramcos global downstream ambitions, contribute to Petrovietnams own strategy, and reinforce Asias importance in global energy and petrochemicals markets." For his part, Petrovietnam CEO Le Ngoc Son 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 Soci alist Republic of Vietnam and the Kingdom of Saudi Arabia in general." Source: Qatar News Agency