Nghi Sơn Refinery in Thanh Hóa Province. — Photo courtesy of the company

Nghi Sơn Refinery and Petrochemical LLC (NSRP) on Wednesday announced the successful completion of its first turnaround ahead of schedule. The refinery resumed normal operations and started delivering petroleum products to the market from 12 October 2023.

As Việt Nam's economy experiences rapid growth, the demand for energy is projected to rise in the foreseeable future. The planned resumption of operations by NSRP will bolster the country's growing energy requirements.

NSRP's refinery plays a crucial role in producing essential petroleum products such as gasoline, diesel, and jet fuel, which are vital for transportation, industry, and power generation.

To support the resumption of operations, NSRP is collaborating with Kuwait Petroleum Corporation (KPC) to secure additional crude oil supply amidst the global scarcity.

So Hasegawa, NSRP’s General Director (GD), said the successful completion of the turnaround demonstrates NSRP's commitment to delivering on time and on budget, in collaboration with stakeholders. NSRP's continuity and contribution to local socio-economic development are supported through key agreements with sponsors, which need to be extended by the end of November 2023.

The company has made progress in corporate governance and transformation initiatives, delivering significant benefits, with expected annual accumulated benefits of around US$150 million in the coming years.

The refinery is a joint venture between Vietnam Oil and Gas Group (PVN) and international companies, including Kuwait Petroleum Europe B.V., Idemitsu Kosan, and Mitsui Chemicals. — VNS