U.S. and Vietnam Sign $4-Billion Energy and Minerals Deals.
American and Vietnamese companies signed this week several agreements in the energy and minerals sectors estimated to be worth $4.15 billion, as the Southeast Asian country looks to avoid U.S. tariffs and boost cooperation with U.S. firms.
Vietnam’s Trade Minister Nguyen Hong Dien visited the United States this week and held talks with the US Trade Representative Jamieson L. Greer to advance bilateral economic and trade cooperation.
The U.S.-Vietnamese agreements included PetroVietnam Gas Corporation signing long-term LNG contracts with Conoco Phillips and Excelerate Energy.Masan Group signed a MoU with the US International Development Finance Corporation for financial support in deep mineral processing projects.
Fuel trader Vietnam National Petroleum Group (Petrolimex) and top US ethanol suppliers US Grains Council (USGC), Renewable Fuels Association (RFA), and Growth Energy (GROWTH) agreed to boost biofuels trade. The agreements are valued at $4.15 billion, according to a PetroVietnam Power statement cited.
Source: OILPRICE
