After over four years since it was announced, the $22 billion Nhon Hoi petrochemical project officially proposed to withdraw from Vietnam’s oil and gas development plan. To date at least three foreign oil and gas groups have fled from Vietnam.

Thailand’s State-owned oil and gas giant PTT has only asked authorities to delay its Victory Nhon Hoi Oil Refinery and Petrochemical Complex project, not withdraw from the project, a local official has confirmed.

VietNamNet Bridge - The appearance of PTT in Vietnam has raised curiosity about how the petroleum market, in which Dung Quat satisfies one-third of demand, is restructured.

VietNamNet Bridge – Thailand’s PTT Public Company Limited, one of the two main investors of Nhon Hoi oil refinery complex, has proposed partnering with Vietnam National Petroleum Group to develop a multi-billion-dollar project

 Thai oil and gas group PTT has asked Viet Nam's south central province of Binh Dinh to reschedule feasibility study reports of a US$27 billion oil refinery plant to July.

Just within a short time, the two big Thai energy conglomerates announced the huge investments in the $27 billion Nhon Hoi petrochemical project and the $2.2 billion Quang Tri thermopower plant project.

The investor of Nhon Hoi oil refinery – PTT of Thailand – next week will release the results of three international bidding packages, which are an important step for the launch of the oil refinery project in Nhon Hoi, Binh Dinh province.

Ninety percent of the source of income of the Quang Ngai province comes from the Dung Quat Economic Zone which is comprised of an oil refinery. This explains why many other localities in the central region dream of having such refineries.

Petroleum Authority of Thailand (PTT) has decided to invest nearly US$27 billion in a petrochemical complex project in the south-central province of Binh Dinh.