The Nghi Son Oil Refinery and Petrochemical complex, the second of its kind in Vietnam, held a Ready for Start-up ceremony on Wednesday to celebrate the milestone of its readiness to receive shipment of crude oil for commercial production. The operational mechanisms in the US$9 billion facility, located in the north-central province of Thanh Hoa, are completely installed and will be ready to begin the production of the plant’s first commercial products, including Euro 5-standardized A95 petrol and diesel oil, in May, its operator announced at the ceremony. By that point, Nghi Son, with a total annual production capacity of 10 million metric tons of petrochemicals, will have helped ensure national energy security and contributed approximately VND10 trillion ($436 million) to the local budget by the end of 2018. Nghi Son will process Kuwaiti crude oil to produce liquefied petroleum gas, gasoline, diesel, kerosene and jet fuel, mainly for the domestic market. Nghi Son … [Read more...] about Vietnam’s second refinery ready for operation
Nghi son refinery project latest news
An unexpected technical issue arising during a test run of an oil refinery in northern Vietnam has prevented the multibillion-dollar facility from beginning operations as scheduled.The Nghi Son Oil Refinery, a US$9 billion facility developed by national oil and gas giant PetroVietnam, has reached 96.6 percent completion and was testing its technology and supporting units when a technical fault was detected.With the affected units now pending repairs, the trial run is likely to be extended by three to six months from the planned completion this March.PetroVietnam and the refinery operator have closed an agreement whereby the the oil and gas giant will purchase all of the output of the facility. The late commission of the refinery will therefore affect PetroVietnam’s fuel import and business plans.Located in the northern province of Thanh Hoa, 160km south of Hanoi, the Nghi Son refinery consumes a total investment of $9 billion, with more than $8 billion already disbursed.The … [Read more...] about Vietnam’s $9bn refinery hit by technical problem during test run
A US$3.2 billion refinery and petroleum project, the third of its kind in Vietnam, broke ground in the south-central province of Phu Yen on Tuesday. Dong Hoa District, the Vung Ro Petroleum Refinery will produce eight million tons of oil and petrochemical products per year once completed, according to its operator, Vung Ro Petroleum Co Ltd. … [Read more...] about Vietnam breaks ground on 3rd oil refinery project, to cost $3.2bn
VietNamNet Bridge - The Phu Yen provincial authorities have asked relevant ministries to propose the government to apply the zero percent export tariff to the petrochemical and sulphur products to be churned out by the Vung Ro oil refinery. Prior to that, similar preferences have been granted to the Nghi Son petrochemical project. According to the Phu Yen provincial people's committee, it wants the preferences because petrochemical and sulphur products are the ones that account for a high proportion of the total investment capital of the whole project. In November 2012, the Vung Ro Oil and Gas Company Ltd once asked for the permission to enjoy the zero export tax rate for the during the whole life of the project. However, the Prime Minister, in reply in the Document No 204/TTg-KTN, only agreed to the zero export tax rate on oil refinery products. Meanwhile, petrochemical products were not subject to the preferential export tax. The Prime Minister, at a working session with the … [Read more...] about Vung Ro oil refinery insists on export tax incentives
With eight oil refinery projects operating, under construction or proposed to be built along Vietnam's coast, the question arises of whether the country could become a world power in oil refinery if these facilities live up to expectations. Even though the country now has only one such operating facility, located in the central province of Quang Ngai, many other projects have been planned and proposed across the country - from the northern to central, south-central, and southern regions. … [Read more...] about Will Vietnam become world power in oil refinery given myriad refinery projects?