Although Vietnam initially decided to build only three oil refineries,two are about to be built and others are under construction, whileseveral more are awaiting licenses, according to an article published onthe English language news portal VietNamNet Bridge on September 9.
Justone day after the Thai PTT Group submitted plans to build the 22billion USD Binh Dinh oil refinery to the Ministry of Industry and Trade(MOIT), a groundbreaking ceremony for the Vung Ro Oil Refinery washeld.
In addition, the construction of the Nghi Son Oil Refineryin Nghi Son Economic Zone kicked off a year ago. Meanwhile, the CanadianMalartic Group has expressed its willingness to develop the Nam VanPhong petrochemistry refinery project.
After 10 years ofpreparation, the investors of the Vung Ro oil refinery project havefinally kicked off a project. The 3.18-billion USD oil refinery isexpected to churn out commercial products by 2017, creating 1,300 stablejobs.
And the Thai PTT Group’s 22 billion USD Nhon Hoi oilrefinery project to be built in Binh Dinh province holds the record ininvestment capital.
According to Man Ngoc Ly, Head of the NhonHoi Economic Zone Management, the Nhon Hoi oil refinery is expected tohave a capacity of 20 million tonnes of crude oil a year, four timesbigger than Dung Quat Oil Refinery.
Binh Dinh provincialauthorities have prepared 2,000 hectares of land for the petrochemistryand refinery complex and have decided to build a deep water port toserve the pumping of crude oil into the oil refinery. Ly said theproject was the top priority of the province.
Several other provinces are also expecting oil refinery projects with huge investment capital of tens of billions of dollars.
Currently,only two refineries exist in Vietnam, the small Cat Lai refinery in HoChi Minh City and the Dung Quat refinery in Quang Ngai province.
DungQuat, with a capacity of 6 million tonnes per annum, can satisfy 30percent of domestic demand. The investor plans to raise capacity to 10million tonnes prior to 2015.
Thanh Hoa province also has an oilrefinery, Nghi Son, the construction of which began one year ago. The 9billion USD refinery would have a capacity of 10 million tonnes of crudeoil in the first phase and 20 million in the second phase.
Underthe oil and gas industry’s development plan, Nghi Son and Dung Quatwill satisfy two-thirds of total domestic demand for petrochemicalproducts.
Only three projects were mentioned in the oil and gas industry development plan, namely Dung Quat, Nghi Son and Long Son.
However,more and more projects have been added to the development plan, and thenumber of added projects has become so high that economists fearVietnam will have “more than enough” oil refineries in the future, whileother countries are seeking alternative energy resources.-VNA
Justone day after the Thai PTT Group submitted plans to build the 22billion USD Binh Dinh oil refinery to the Ministry of Industry and Trade(MOIT), a groundbreaking ceremony for the Vung Ro Oil Refinery washeld.
In addition, the construction of the Nghi Son Oil Refineryin Nghi Son Economic Zone kicked off a year ago. Meanwhile, the CanadianMalartic Group has expressed its willingness to develop the Nam VanPhong petrochemistry refinery project.
After 10 years ofpreparation, the investors of the Vung Ro oil refinery project havefinally kicked off a project. The 3.18-billion USD oil refinery isexpected to churn out commercial products by 2017, creating 1,300 stablejobs.
And the Thai PTT Group’s 22 billion USD Nhon Hoi oilrefinery project to be built in Binh Dinh province holds the record ininvestment capital.
According to Man Ngoc Ly, Head of the NhonHoi Economic Zone Management, the Nhon Hoi oil refinery is expected tohave a capacity of 20 million tonnes of crude oil a year, four timesbigger than Dung Quat Oil Refinery.
Binh Dinh provincialauthorities have prepared 2,000 hectares of land for the petrochemistryand refinery complex and have decided to build a deep water port toserve the pumping of crude oil into the oil refinery. Ly said theproject was the top priority of the province.
Several other provinces are also expecting oil refinery projects with huge investment capital of tens of billions of dollars.
Currently,only two refineries exist in Vietnam, the small Cat Lai refinery in HoChi Minh City and the Dung Quat refinery in Quang Ngai province.
DungQuat, with a capacity of 6 million tonnes per annum, can satisfy 30percent of domestic demand. The investor plans to raise capacity to 10million tonnes prior to 2015.
Thanh Hoa province also has an oilrefinery, Nghi Son, the construction of which began one year ago. The 9billion USD refinery would have a capacity of 10 million tonnes of crudeoil in the first phase and 20 million in the second phase.
Underthe oil and gas industry’s development plan, Nghi Son and Dung Quatwill satisfy two-thirds of total domestic demand for petrochemicalproducts.
Only three projects were mentioned in the oil and gas industry development plan, namely Dung Quat, Nghi Son and Long Son.
However,more and more projects have been added to the development plan, and thenumber of added projects has become so high that economists fearVietnam will have “more than enough” oil refineries in the future, whileother countries are seeking alternative energy resources.-VNA
