Vung Ro Petroleum and Genoil reached an agreement to enter into a strategic partnership to work on the Refinery Project. Genoil is a provider of world-leading hydroconversion fixed bed technology for upstream and downstream oil and gas industry. The central pillar of Vung Ro Petroleum and Genoil cooperation is the GHU® Hydroconversion upgrader. The upgrader can be utilized in refineries to increase light oil production by 15‐20 % (volume output) and to desulfurize the oil over 90% to help refiners to comply with environmental regulations. This patented and unmatched technology is the best solution for the Phase 2 refinery development as it allows the VRP Refinery to be even more competitive on the global market, as well as meet all the IMO’s demands and regulations that will have been imposed by 2020. Genoil is a great partner and this cooperation exemplifies our dedication to successfully develop the Refinery and it reflects our desire to work with the companies that share our vision,” said Kirill Korolev, CEO of Vung Ro Petroleum. VRP and Genoil are looking forward to strengthening their cooperation in business and project development. Moreover, the two companies have agreed on including future aspects of desulphurization processes with reference to the future Refinery expansion.