Wednesday, Nov 02, 2011
BEIRUT (Zawya Dow Jones)--State-run Kuwait Petroleum Corp, or KPC, is looking at alternative scenarios for its planned Vietnam refinery project, a company official said, Kuwait-based Al Rai daily reports Wednesday.
If KPC sets up a refinery in Vietnam it might not be able to sell the refinery's output domestically because it will face strong competition and because the Vietnamese market is small and suffering from economic problems, the paper reports, citing Youssef Al Qabandi, deputy managing director for marketing middle distillates and fuel oil.
KPC has to reconsider the project and alternative scenarios are safer than building a refinery, Al Qabandi told Al Rai.
KPC will encounter tough competition because Vietnam is surrounded by large countries that have surpluses of refined products, Qabandi told the daily.
Newspaper website: http://www.alraimedia.com/Alrai/Article.aspx?id=307519&date=02112011
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
02-11-11 0602GMT
