NSRP commits to ensuring the supply sources of petroleum products

Friday, Oct 28, 2022 14:13

Nghi Son refinery facilities. — Photo courtesy of the company

International fuel supplies to Viet Nam have recently faced many difficulties, leading to a shortage of petroleum products at some domestic petrol agents and retail gas stations.

Nghi Son Refinery and Petrochemical LLC (NSRP) has received a request from the Ministry of Industry and Trade (MoIT) to maintain stable production activities and maximise production to ensure petroleum supply to the domestic market.

The Ministry also requested NSRP to take adequate measures to facilitate petroleum products delivery to enterprises that have ordered goods under the signed contracts.

In the response letter to MoIT, the company confirmed its plan to operate the refinery at an average 100 per cent utilisation rate in the fourth quarter of 2022 to ascertain the continuously stable supply of petroleum products to the local market.

NSRP will also deliver the quantity committed to the current off-taker in the last quarter of this year based on the prevailing Fuel Production Offtake Agreement (FPOA) between the parties.

The committed quantity amounts to about 2.4-2.5 million cubic metres of fuel products to the off-taker in the last quarter of this year, which is believed to be enough to contribute to the supply stability in the Vietnamese fuel market.

The company also said it had worked closely with the off-taker to maximise the quantity delivered in the fourth quarter under the FPOA. However, the delivery progress depends greatly on the weather conditions and vessel arrangements by the off-taker and their key traders.

NSRP has committed to playing its key role in ensuring the national energy securities by providing approximately 40 per cent of the national petroleum fuel demand. — VNS

Comments (0)