Vietnam’s first refinery debuts

Vietnam’s first oil refinery will officially be inaugurated on January 6, according to the Vietnam National Oil and Gas Group (Petrovietnam).

Covering 808ha of land and 471ha of seawater surface, the Dung Quat oil refinery is capable of processing 6.5 million tonnes of crude oil a year into products like liquefied gas (LPG), unleaded petrol, kerosene, air fuel, auto diesel, fuel oil (FO), sulphur and polypropylene.

After commercial operation, which began in February, 2009, the refinery was handed over by the Technip Contractor Consortium to PetroVietnam on May 30, 2010, and it had by the end of the year supplied the market with 7.2 million tonnes of products.

At present, the refinery’s owner, PetroVietnam, and its foreign partners are considering raising the refinery’s yearly capacity to 10 million tonnes.

They plan an additional investment of US$1 billion for the capacity expansion scheme, which is expected to be completed in 2016.

This year, the refinery has set to earn VND77 trillion in revenues and VND550 billion in profit and contribute VND15 trillion to the state budget. – Vietnam+

Tags: Dung Quat oil refinery