Vietnam’s Top Oil Refinery Cuts Processing on Cash Squeeze

Vietnam’s largest oil refinery cut processing rates and may be forced to close next month after a cash squeeze led to a halt in crude imports from Kuwait, according to people with knowledge of the matter.

Nghi Son Refinery & Petrochemical LLC is seeking financial assistance from the Vietnamese government and the plant could be shut if the company is unable to secure funding, said two people familiar with the matter who asked to not be identified because the information is private. The refinery is running at 80% of capacity, down from 105%, and crude imports were halted about a week ago, they said.