VN plans boost to oil production

Thursday, Mar 13, 2014 08:23

THANH HOA (Biz Hub) — Viet Nam aims to have four fully operational oil refineries by 2030, capable of processing between 16 and 20 million tonnes of crude oil per annum by 2020.

The Ministry of Planning and Investment made the announcement at a recent meeting in Ha Noi, discussing the orientations of the oil refinery industry and projects for coastal socio-economic development along with adaptation to climate change.

The project is expected to incrementally increase the production capacity of the Nghi Son Oil Refinery and Petrochemical Complex to 10 million tonnes per year between 2013 and 2020.

The Dung Quat Oil refinery's production capacity will be increased from its current annual 6.56 million tonnes to 10 million tonnes, while three Ethanol plants will gradually step up production to 300 million litres per year.

The plans for the 2021-30 period include increasing the production capacity of the Long Son and Vung Ro oil refineries to 10 million tonnes and 8 million tonnes per year respectively, bringing total capacity to 38 million tonnes per year. — VNS

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