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Refinery pumps first gas additive
The country’s first oil refinery, the Dung Quat, pumped out its first petrol semi-product – a new high octane – on Wednesday.
The product, 02 RON - Refomate, is one of the most important liquid substances to accompany other commercial unleaded petrol products such as RON 92 and RON 95, which are expected to be launched later this month.
The products’ debut will help ease the pressure in Viet Nam which absolutely depends on imports.
It is estimated the refinery will supply 500,000 tonnes of petrol products with retail prices equal to imported ones.
National Oil and Gas Group (PetroVietnam) Chairman Dinh La Thang said at a conference that the Prime Minister assigned the group, the Ministry of Finance and concerned State bodies to work out a draft plan on the appropriate prices of its products.
As directed by the Government, the petrol prices must be based on the market and a tax that would guarantee profitability for the refinery.
Crude oil for the refinery came initially from the Bach Ho offshore oilfield, but PetroVietnam has already signed contracts with the BP to provide additional crude oil supplies. It also expected to sign contracts for supplies from two other foreign partners.
Besides resources from abroad and Bach Ho, the plant will also use crude from other local oilfields, including Golden Tuna, Black Merlion, White Merlion and Dawn.
The refinery on 600ha began operations on February 22. This year it will process about 3.5 million tonnes of crude, which will be refined at the rate of 70,000-75,000 barrels a day. From next year to March 2011, the plant will process 6.5 million tonnes a year at a rate of 100,000-145,000 barrels a day.
Once fully operational, the refinery will meet 30 per cent of domestic demand. At present, Viet Nam imports 13 million tonnes of petrol and oil per year.
vietnamnet, vietnamplus
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