PV Enertech signs agreement with Innospec, GE, Honeywell

PV Enertech, a subsidiary of PetroVietnam Energy Industrial Group Corp. (PV EIC), has signed a long-term cooperation agreement with Innospec Specialty Chemicals, GE Electric Co., and Honeywell International Inc. Under the agreement, the four firms will jointly produce and process specialized chemicals for the oil refinery and petrochemical industry, state-run Vietnam News Agency said. Vietnam plans to put into operation between five and six oil refineries with a combined refining capacity of 30 million tons of crude oil a year through 2015 to meet its rising local demand for petroleum products which is forecast to hit between 22 million and 25 million metric tons. (July 7, 2010)