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ExxonMobil continues preparatory work for gasoline mission in Vietnam

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A view of the Exxon Mobil refinery in Baytown, Texas September 15, 2008. An enormous chunk of U.S. vitality manufacturing shuttered by Hurricane Ike may get better rapidly amid early indications the storm brought on solely minor to average harm to platforms and coastal refineries. REUTERS/Jessica Rinaldi ( UNITED STATES)

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HANOI, Nov 29 (Reuters) – ExxonMobil (XOM.N) is constant preparatory work for its Ca Voi Xanh (Blue Whale) gasoline mission in Vietnam, it mentioned on Monday, with a remaining funding choice depending on elements together with regulatory approvals and gasoline gross sales offers.

Final month, the ExxonMobil board was debating whether or not to proceed with a number of main oil and gasoline tasks, together with the mission in Vietnam, amid a push from buyers for fossil gasoline firms to be extra cost-conscious and green-energy pleasant.

“We accomplished front-end engineering and design for the mission in Could 2020, and are engaged on the ultimate improvement plan,” an organization spokesperson mentioned in an emailed assertion.

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Positioned off Vietnam’s central coast, Ca Voi Xanh is doubtlessly the nation’s greatest gasoline mission, with an estimated 150 billion cubic metres in reserves.

Below preliminary mission plans, the gasoline would stream via an 80 km pipeline to be processed close to Danang metropolis after which provided to 4 proposed energy crops in Vietnam’s central provinces.

“A remaining funding choice will likely be primarily based on various elements, together with regulatory approvals, authorities ensures, executed gasoline gross sales agreements and financial competitiveness,” the spokesperson mentioned.

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Modifying by Alison Williams and Jan Harvey

Our Requirements: The Thomson Reuters Belief Rules.

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