Thus, there is a high possibility that Binh Dinh would not license an oil refinery in the area, the source said. Authorities in Binh Dinh Province in central Vietnam have canceled a US$22 billion oil refinery citing environmental concerns and the fact they could not agree to many demands by the foreign investors. Last month PTT once again put off plans to build the refinery, citing uncertainty in global oil markets and political changes following elections in Vietnam. The province leaders Sunday aborted the project proposed by Thailand’s largest energy company PTT and Saudi Aramco, the world’s biggest oil producer, on a 1,400-hectare site at the Nhon Hoi Economic Zone. The leaders expressed concern about the environmental impacts of the project, particularly on the province capital town Quy Nhon.

Source: Thanhnien News July 25, 2016 10:07 UTC