Dung Quat Oil Refinery in central Quang Ngai province (Photo: VNA)Hanoi (VNA) – The State-owned BinhSon Refinery and Petrochemical Company Limited (BSR) has completed the overallplan for the upgrade and expansion of the Dung Quat Oil Refinery.
Tran Ngoc Nguyen, CEO of BSR, said theexpansion project will cost more than 1.8 billion USD, of which equity capitaland loan capital will account for at least 30 percent and 70 percent,respectively.
BSR plans to borrow some 1.26 billion USD, Nguyensaid, adding that the estimated loan amount is in line with the PrimeMinister’s decision on granting approval.
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Under the project, BSR will set up and putinto operation some additional technology workshops for the processing of crudeoil with higher sulfur content, such as Murban, ESPO and Arab Light, increasingthe stable supply of petroleum products in accordance with the Euro 5 standard.
Crude oil supply of the refinery will alsobe significantly increased, thus helping it become less dependent on crude oilsupply from the Bach Ho (White Tiger) oil field.
Expansion work is expected to be completedby 2021, following which Dung Quat Oil Refinery will have capacity to refine8.5 tonnes of crude oil per year.-VNA
VNA
