First foreign JV to distribute fuels in VietnamVietNamNet Bridge – Idemitsui Q8 Petroleum Co Ltd will become the first foreign joint venture to distribute fuels in Vietnam as it has finalized procedures to open its first gas station in the nation. Idemitsui Q8 will sell imported fuel products in the initial phase and products of Nghi Son Oil Refinery from mid-2017. Idemitsui Q8 got approval to sell fuels in Vietnam as the Government pledged to allow shareholders of Nghi Son oil and petrochemical complex to distribute its products in Vietnam. Meanwhile, Nghi Son Oil Refinery and Petrochemical Co Ltd is expected to sell products from mid-2017. Dung Quat Oil Refinery has seen its sales declining as imports have an edge over its products thanks to their lower import tariffs.

Source: VietNamNet News September 15, 2016 10:30 UTC