Joint venture model in oil refinery - lessons learned from Bayernoil refinery
Abstract
Joint venture is a form of economic co-operation that can exploit the advantages, experiences and resources of the partners. To optimise the effectiveness of joint venture models, the negotiation and establishment of the terms of agreement and the management mechanism of joint ventures should be carefully considered from the beginning, otherwise, it may cause harm to the business after the project is implemented.
The article introduces the common joint venture models in the oil refinery sector and a typical joint venture model applied by an international oil and gas company, the Bayernoil refinery joint venture. This model can be applied to manage oil refining activities as well as other joint venture projects with large investments in Vietnam.
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