Saudi, Vietnam sign energy co-operation deal

Saudi Aramco signed a Collaboration Framework Agreement with Vietnam Oil and Gas Group (Petrovietnam) to explore potential co-operation in areas such as energy storage, supply, and trading of petrochemical products.

The agreement was signed during the Future Investment Initiative (FII) 8th Edition in Riyadh, with the goal of identifying opportunities to optimise operations and create value, a statement from Aramco said on Wednesday.

By joining forces, Aramco and Petrovietnam aim to strengthen their positions in the global energy market and contribute to the sustainable development of both countries, the statement added.

Collaborating with Petrovietnam will enhance Aramco’s global downstream goals, support Petrovietnam’s strategy, and strengthen Asia’s role in the energy and petrochemical markets, Mohammed Y. Al Qahtani, Aramco Downstream President.

Attribution: Saudi Aramco statement

Subediting: Y.Yasser