TradeWinds News: Saudi cash to boost Vietnam VLCC trade as refinery sector set for expansion

November 4, 2024 But broker Poten & Partners says “more oil product self-sufficiency will hit MR trade into Asian country.” “Vietnam has two refineries operating now, but more are planned, ” according to Erik Broekhuizen, the New York shop’s manager of marine research and consulting. “A potential investment of Aramco in a new refinery in Vietnam is consistent with the Saudi strategy of securing demand for their crude oil by investing in downstream facilities in other countries, while securing a long-term supply agreement,” Broekhuizen said.

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