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Vietnam to import 1 mln tons oil products in July
Vietnam will import around 1 million tons of petroleum products to compensate domestic demand due to Dung Quat Refinery Plant's maintenance work starting July, said the CEO of Binh Son Refining and Petrochemical Company, the refinery’s operator.
The $3 billion facility will temporarily shut down from mid-July to mid-September for its first scheduled maintenance process which will be performed by international and local engineers and experts, said Binh Son’s CEO Nguyen Hoai Giang.
The US$25 million maintenance contract signed between the company and Korean contractors of Jcon, Dong-II, Ubec, and Deachang will have five subcontracts, excluding the costs of spare parts.
The plant has been running at 105 percent of its capacity to produce about 1,000 tons of petroleum products worth around VND20 billion per day to meet rising demand of the domestic market.
Almost all of its products, meeting 33 percent of local demand, are sold to three giant corporations including Petrolimex, Petect and PV Oil.
Dung Quat is targeted to produce 10 million tons of oil products per year by 2015 to keep up with the country’s surging demand.
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