World's biggest energy company eyes joint venture in Vietnam

May 13, 2016 | 05:16 pm PT

Saudi Aramco, the biggest energy firm in the world, is looking at potential joint ventures in several countries, including Vietnam, Indonesia, India, the United States, and China, Reuters reported this week, citing company’s chief executive Amin Nasser.

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"We are looking at the current market status that, even though challenging, is an excellent opportunity for growth," he told reporters during a rare media visit to company facilities in Dhahran.

In 2014, Saudi Aramco joined with Thailand’s oil and gas giant, PTT, to submit a proposal to the Vietnamese government to build a $22 billion refinery and petrochemical complex in Vietnam’s Binh Dinh central province.Construction of the proposed project was previously scheduled to be completed by 2021 but so far no major moves have been done to push forward the project.