PTT says financially capable to build giant oil refinery Quoc Hung By Quoc Hung - The Saigon Times Daily HCMC – Thailand’s PTT Public Company Limited says it is financially capable to pursue the giant oil refinery and petrochemical project in Binh Dinh Province, and will cover at least one-third of the total cost of the project, said a local official. The remaining two-thirds will be mobilized from strategic partners and foreign and local investors. The project costs a hefty US$27 billion, said Man Ngoc Ly, head of the authority of Nhon Hoi Economic Zone where the big-ticket project is to be located. A delegation of Binh Dinh consisting of the provincial government chairman, leaders of relevant agencies and economists last week visited PTT over this project. On this occasion, the two sides worked on further details to prove the viability of the oil refinery and petrochemical project. In addition, PTT pledged to bear one-third of the total cost of the project, Ly said. … [Read more...] about PTT says financially capable to build giant oil refinery
Oil refinery factorio
Proposed upgrade for Saigon oil refinery raises safety, environmental concerns Info Alert Alert Chia sẻ bài viết qua e-mail
A proposal to upgrade a decades-old oil refinery in Ho Chi Minh City has sparked concerns as the operator wants to deploy Chinese technology for the facility that is located near a residential area.Spanning 25 hectares in the Cat Lai Industrial Park in District 2, the refinery is operated by the Cat Lai Refinery Co., a subsidiary of Saigon Petro.The facility is capable of treating 350,000 metric tons of oil a year, producing such products as kerosene, diesel oil and fuel oil, according to Saigon Petro’s website. The refinery is also in charge of receiving and storing fuel imports for Saigon Petro.The facility was built in 1982, according to Saigon Giai Phong (Liberated Saigon) newspaper.Upgrade with Chinese techThe refinery operator has submitted a proposal to upgrade the facility, sending its capacity to 400,000 metric tons a year, with an investment of VND1,179 billion (US$51.94 million).A similar upgrade proposal was made and received in-principle approval from the prime … [Read more...] about Proposed upgrade for Saigon oil refinery raises safety, environmental concerns Info Alert Alert Chia sẻ bài viết qua e-mail
Proposed upgrade for Saigon oil refinery raises safety, environmental concerns
A proposal to upgrade a decades-old oil refinery in Ho Chi Minh City has sparked concerns as the operator wants to deploy Chinese technology for the facility that is located near a residential area.Spanning 25 hectares in the Cat Lai Industrial Park in District 2, the refinery is operated by the Cat Lai Refinery Co., a subsidiary of Saigon Petro.The facility is capable of treating 350,000 metric tons of oil a year, producing such products as kerosene, diesel oil and fuel oil, according to Saigon Petro’s website. The refinery is also in charge of receiving and storing fuel imports for Saigon Petro.The facility was built in 1982, according to Saigon Giai Phong (Liberated Saigon) newspaper. Upgrade with Chinese techThe refinery operator has submitted a proposal to upgrade the facility, sending its capacity to 400,000 metric tons a year, with an investment of VND1,179 billion (US$51.94 million).A similar upgrade proposal was made and received in-principle approval from the prime … [Read more...] about Proposed upgrade for Saigon oil refinery raises safety, environmental concerns
Foreign investors keen to acquire stake at oil refinery
Foreign investors keen to acquire stake at oil refineryThe Saigon Times Daily HCMC – The equitization of Binh Son Refining and Petrochemical Company (BSR), the operator of Dung Quat Oil Refinery in central Vietnam, has drawn strong attention of big foreign investors given the company’s strong financial readings and its market position. Under the equitization plan approved last week by the Government, BSR will launch its initial public offering (IPO) on the Hochiminh Stock Exchange on the third week of next month. Via this IPO, BSR will sell 7.79% of its chartered capital, equivalent to 242 million shares at a price starting from VND14,600 per share, generating an estimated VND4 trillion. A 49% stake will be sold to strategic investors in the next phase with nearly US$1 billion to be collected. Of the VND31 trillion chartered capital of BSR, Vietnam National Oil and Gas Group (PVN) owns 43% (1.3 billion shares), and 0.21% (6.4 million shares) will be sold to staff and 49% … [Read more...] about Foreign investors keen to acquire stake at oil refinery
Govt acts to help struggling Dung Quat Oil Refinery
Govt acts to help struggling Dung Quat Oil Refinery Ngoc Lan HANOI - The Government has increased tax incentive for gasoline produced by Dung Quat Oil Refinery in the central province of Quang Ngai. In a decision just issued to adjust the tax policy for Dung Quat, the refinery's gasoline products are sold at prices nearly equivalent to those of imported items from South Korea under special tariffs in line with the bilateral free trade between Vietnam and the Northeast Asian country, and 10% lower than those of imports from ASEAN nations. Between end-2015 and the first quarter of this year, Binh Son Refining and Petrochemical Company Limited (BSR), the operator of Dung Quat Oil Refinery, wrote to the Government many times seeking to lower import duties on its fuels and reduce its tax payment to the State budget. Tariff cuts for fuel imports from certain markets have encouraged domestic fuel wholesalers to step up imports but slash purchases from Dung Quat. This would spell trouble … [Read more...] about Govt acts to help struggling Dung Quat Oil Refinery