Vietnam Petroleum Demand Forecast at 16M Tons This Year

Vietnam’s petroleum demand is forecast at 16 million tons this year, up 6.67% from a year earlier driven by increasing number of cars and industrial production.

The country consumed 15 million tons of the products last year, up 4% on year.

In order to meet the increasing demand, Vietnamese Deputy Prime Minister Hoang Trung Hai has recently urged the Ministry of Industry and Trade to promptly map out incentives for bio-fuel development projects in the country.

Currently, the nation has two bio-diesel production projects using animal fat as input materials in Can Tho City and An Giang province with a combined capacity of 80 tons a day as well as a lot of projects using cassava and molasses scattering nationwide.

The Southeast Asian country plans to put into operation five ethanol plants with a combined annual capacity of 365,000 tons by end-2011, which can produce 7.3 million tons of ethanol-blended gasoline (Gasohol E5).

The nation plans to produce 1.8 million tons of ethanol and vegetable fuel oil by 2025 in order to meet 5% of the national petroleum demand.

The national demand for ethanol is forecast to hit 300 million liters in 2012. (VNS)

Tags: Vietnam Petroleum, Vietnam Petroleum Demand

Posted by VBN on Jul 7 2010. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry