Vietnam to continue fuel import

Vietnam to continue fuel import

According to a report issued June 26 by Binh Son Refining and Petrochemical
Company (BSR), the operator of the US$3-billion Dung Quat Oil Refinery in
Quang Ngai Province, the country is projected to consume 6.5 million tons of
gasoline and 8.5 million tons of DO from 2018 to 2022.

Meanwhile, Dung Quat and another oil refinery, Nghi Son, can supply nearly
six million tons of petrol and seven million tons of DO from 2018,
representing 92% and 82% of domestic demand respectively.

The shortfall would be offset by fuel imports from Singapore, Malaysia,
Thailand, South Korea and China.

Nghi Son Oil Refinery in Thanh Hoa Province will be put into operation next
year with an annual processing capacity of 10 million tons of crude oil.
It is expected to supply 8.8 million tons of fuels, including about 2.3
million tons of petrol and 3.7 million tons of DO, meeting 40% of local
needs.

Condensate processing plants such as PVOIL Phu My, Saigon Petro, Nam Viet
Oil and Dong Phuong have a combined annual capacity of 690,000 tons of
gasoline.

Since its debut seven years ago, Dung Quat has sold over 47 million tons of
fuels with total revenue amounting to more than US$36 billion and profit
reaching over VND13 trillion (US$0.57 billion) by the end of the first
quarter of 2017.

BSR has paid over US$7 billion in taxes to the State.

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

Link to Original Article:
http://english.vietnamnet.vn/fms/business/181057/vietnam-to-continue-fuel-im
port.html

--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---

John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com