TOKYO -- JX Nippon Oil & Energy is preparing to build its first overseas oil refinery in Vietnam, and it may get into the gas station business there as well.
The Japanese petroleum distributor plans to partner with state-run Vietnam National Petroleum Group, also known as Petrolimex, to build a refinery capable of handling roughly 200,000 barrels daily. The companies will sign a memorandum of understanding Friday, and JX Nippon Oil should complete its feasibility study within six months.
