Aug. 26 (Bloomberg) -- Vietnam and Venezuela accelerated talks on five oil projects, aiming to sign joint-venture agreements in November, Vietnam News Agency reported, without saying where it got the information.

State-owned Vietnam Oil & Gas Group, known as PetroVietnam, is in talks with companies including Petroleos de Venezuela SA on ventures worth tens of billion dollars, the report said.

The projects included a crude oil refinery in Vietnam, and a plan for PetroVietnam to buy oil products from Petroleos de Venezuela, according to the report.

For Related News: News on Vietnam's economy: TNI VIET ECO <GO> Venezuela oil news: STNI VENEZOIL <GO>

Last Updated: August 25, 2008 21:53 EDT