Oil refinery to work at full capacity

Fuel supplies are sufficient to meet domestic demand through the first quarter of next year, said Deputy Minister of Industry and Trade Nguyen Cam Tu.

The ministry had ordered the Dung Quat Oil Refinery to continue operating at full capacity for the next 105 days to meet domestic demand during the period, Tu said.

Tu said that his ministry had also discussed with the Ministry of Finance a proposal to reduce the import tariff on petroleum products by 5 per cent, after petroleum distributors had complained of difficulties in obtaining products.

The Ministry of Industry and Trade had worked with banks to ensure sufficient foreign currency supplies for these distributors to cover import contracts and ensure domestic supplies, Tu said.

He admitted that some localities nationwide were dealing with fuel shortages, but blamed distributors for poor planning and said the ministry was working with them to solve the problem.

Nguyen Sinh Khang, deputy director of the Dung Quat Oil Refinery, said his facility was now supplying volumes able to meet 40 per cent of domestic demand.

The refinery was operating at full capacity to meet distributor orders, Khang said.

PetroVietnam Oil Corporation (PV Oil) meanwhile claimed that it could ensure sufficient petrol and oil products for its market and had so far shipped 2 million tonnes of petrol and oil – beyond its initial plan of 1.8 million tonnes.

Petrolimex deputy director Dam Thi Huyen said her company had maintained 29-30 per cent growth in distribution. — VNS

Tags: Dung Quat oil refinery