As global fuel markets face heightened volatility, major players in refining, power generation and mining are rapidly adjusting operations, introducing cost-saving measures that range from carpooling to flexible construction planning. Some initiatives have already helped companies save millions of US dollars.

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The Tri An Hydropower Plant expansion project.
 
 
 

At the Tri An Hydropower Expansion Project in Dong Nai Province, construction has entered an accelerated phase. Yet project execution is being recalibrated to remain flexible amid fluctuating energy costs.

According to the project’s management board, a consortium of six contractors is currently working on key components including water channels, intake structures and foundation excavation. Fuel consumption at the site has reached approximately 12,500 liters per day, and is expected to rise to 16,000-17,000 liters daily in April.

To ensure progress, the contractors have requested support from local authorities to prioritize fuel supply. At the same time, construction plans are being adjusted to reduce fuel usage where possible.

“We have identified critical components such as the main plant area, penstock system and water channels as priority zones,” a representative said. “Resources are being concentrated there, while adjustments are made to minimize fuel consumption without significantly affecting overall timelines.”

Similar approaches are being adopted beyond hydropower. A coal mining company in Thai Nguyen Province has revised its production plan by temporarily reducing overburden removal while focusing on coal extraction to maintain annual output targets. The company is also intensifying dredging and deepening operations to better prepare for the rainy season.

At Binh Son Refining and Petrochemical Joint Stock Company (BSR), a comprehensive set of energy-saving and cost-optimization measures has been rolled out to sustain stable operations.

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Companies prioritize arranging shared transportation for employees to save fuel. Photo: BSR.

To reduce fuel consumption, BSR has encouraged shared transportation for employees traveling to the same destinations or working on similar schedules. Business trips are being consolidated, and internal planning has been streamlined to optimize vehicle usage.

Online meetings are also being prioritized to limit travel between work locations, contributing to both cost and fuel savings.

“In the context of global energy market volatility driven by geopolitical tensions, saving energy and optimizing costs are essential not only for operational efficiency but also for maintaining stable and sustainable production,” said Bui Xuan Duong, Deputy Chief of Office in charge at BSR.

He added that if geopolitical conflicts escalate further, the company may consider allowing indirect operational staff to work remotely to further reduce fuel and operational costs.

Beyond short-term measures, the Dung Quat Refinery has implemented long-term technical and management innovations aimed at improving efficiency.

One notable solution is the blending of crude oil shipments to optimize transportation and procurement costs. BSR has flexibly combined different crude batches, both domestic (under FOB terms) and imported (under CFR terms), for shipment on a single vessel.

In late 2023, the refinery successfully blended two imported crude types - WTI Midland and Bertam - on one tanker for the first time, significantly reducing logistics costs while expanding sourcing options.

To date, BSR has evaluated 92 types of crude oil and successfully processed 33, including 11 domestic and 22 imported varieties. Blending ratios can reach up to 60%, allowing partial replacement of Bach Ho crude as its output declines.

This diversification strategy reduces dependence on a single supply source and enhances resilience against geopolitical disruptions and market fluctuations.

According to engineer Dinh Van Toan from BSR’s Production Planning Division, the benefits of crude blending become even more pronounced amid rising transportation risks and costs.

“When shipping surcharges and insurance premiums increase, this approach allows us to import multiple crude types along the same route, easing logistics pressure,” he said.

The strategy also enables access to more competitively priced crude, broadening the refinery’s input portfolio and strengthening its flexibility.

“As a result, the plant can better secure stable, long-term crude supply while optimizing production efficiency,” Toan added.

Tam An