Vietnam’s state-owned Petrovietnam Oil Corp. (PV Oil) plans to sell a 35%-40% stake to strategic investors and expects to raise at least $270 million, it said on March 8.The privatization of PV Oil, Vietnam’s only crude oil exporter and its second-biggest oil products retailer, has been highly anticipated by investors as the government tries to open up the oil and gas sector and raise money through the sale of stakes in state firms.Major oil companies from Japan, South Korea, Thailand and the Middle East have applied to buy shares, a company official said in an email to Reuters. It did not identify them.
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