INTERNATIONAL INVESTMENT
AND PORTAL
Binh Son Refining and Petrochemical JSC (BSR) is operating Dung Quat Oil Refinery at 109 per cent of the refinery’s design capacity to offset the lack of petroleum and oil in the market.
The capacity exceeded the initial expectation of 103 per cent for the whole year.
Cao Tuan Si, deputy director of Dung Quat Oil Refinery said that the company has plans to increase the capacity to 110 per cent, which will contribute to stabling the petroleum and oil market.
The company also accelerates the sales and delivery for the petroleum and gasoline distributors and simultaneously is proactive in building long-term plans for crude oil purchase to ensure a stable operation with high capacity.
The refinery is planned to increase the capacity to 110 per cent.
Dung Quat Oil Refinery plays a crucial role in ensuring national energy security by providing 35 per cent of petroleum and petrol for the domestic market.
Although Dung Quat Oil Refinery is operating at a higher capacity compared to the designed one, its operator BSR is under inspection to clarify the reason causing the existing price fluctuations of petroleum and oil in the market recently.
Along with BSR, other 15 key petroleum and petrol trading facilities, such as Nghi Son Refinery and Petrochemicals LLC, are also under inspection.
The inspections will last for up to 60 days and will cover the operation of these facilities and refineries from January 2017 to the end of June this year.
Vietnam to import additional petroleum and adjust tax
Increasing petroleum imports and raising related taxes is deemed an effective solution to offset the shortfall in domestic output.
Reform needed to support oil and gas industry: experts
Experts have raised strong support for a comprehensive reform for the draft revised Petroleum Law that will help further develop the country’s oil and gas industry.
Petrol retailers demand major changes
Retail petroleum businesses have asked to stop contributing to the petrol price stabilisation fund, increasing the commission to reduce losses and permanently withdrawing the licence of unprofitable retailers.
Inspections planned at petroleum distributors and refineries
On October 13, the Government Inspectorate of Vietnam established a delegation to inspect the state management of 15 key petroleum and gasoline trading facilities and two oil refineries, namely Binh Son Refining and Petrochemical JSC and Nghi Son Refinery and Petrochemicals LLC.
By Ha Vy
