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Vietnam refinery needs $2 bln investment to up capacity: report
Vietnam's only oil refinery, Dung Quat, needs more than US$2 billion of investment to expand its processing capacity by nearly a third to 192,000 barrels per day (bpd), or 9.5 million tonnes per year, a local newspaper reported on Friday.
The expansion would also require a new crude processing unit for grades from the Middle East or Venezuela, the Dau Tu newspaper said, citing a report from Japanese adviser JGC Corp.
The report put $2.2-billion Dung Quat's current capacity at 149,000 bpd, already above initial output of 130,500 bpd. Dung Quat refines mainly light sweet Bach Ho crude.
JGC Corp has been hired to provide a feasibility study on the refinery's expansion as Vietnam aims to increase its output of domestically refined oil products to cut reliance on imports. Dung Quat now meets a third of domestic demand.
Last month, Dung Quat's operator said the refiner was seeking to sell a 49 percent stake to foreign investors to raise funds and boost its capacity by more than half.
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