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Chairman of the Vietnam National Oil and Gas Group (PetroVietnam) Dinh La Thang said that the group has sent a document to the Prime Minister, asking for permission to sell stakes of the Dung Quat oil refinery to foreign partners.

Some foreign investors have expressed interest in purchasing the stakes. These include India’s Essar, the Netherlands’ Shell, Russia’s Zarubezhneft and Rosneft. They have had working sessions with PetroVietnam on purchase deals and the upgrade and expansion of the oil refinery.

Bach Ho (White Tiger) oil field, which is the main source of supply of crude oil for the oil refinery, has passed the peak exploitation period. Therefore, foreign investors who can supply oil themselves or arrange long-term supplies of crude oil for the oil refinery will receive preference.