oil refinery

Update news oil refinery

The Ministry of Industry and Trade has urged Nghi Son Refinery and Petrochemical LLC and Binh Son Refining and Petrochemical Joint Stock Company to operate at full capacity to meet domestic demand.

Thai oil refining firm eyes investment in Vietnam

Thai Oil Plc (TOP), Thailand’s the largest oil refining company by capacity, is looking forward to pouring its investment in Vietnam, Indonesia and India, in the fields of oil refinery, lube oil and high-value petrochemical products.

Policy changes needed for refineries to keep high capacity

The Dung Quat Refinery accounted for over 30 per cent of Viet Nam's petrol demand since the beginning of the year.

Multi-billion dollar oil refineries: SOEs quit, foreign investors jump in

VietNamNet Bridge - Because of limited financial capability, state-owned enterprises (SOEs) have decided to quit multi-billion dollar oil refinery projects. 

Vietnam to see cutthroat competition in petroleum market

VietNamNet Bridge - Formerly a country that exported crude oil at low prices, Vietnam now produces petroleum products which can satisfy half of domestic demand.

SCG reaffirms determination to develop $5.4 billion Long Son petrochemical complex

Siam Cement Group (SCG) has signed a Memorandum of Understanding (MoUs) with PetroVietnam, aiming to reinforce the development of Long Son petrochemical complex (LSP) in the southern province of Ba Ria-Vung Tau.

Vietnam loses nearly US$450mil. in petroleum revenue because of tax cut

VietNamNet Bridge - A loss of VND10 trillion (over $445 million) in tax revenue from petroleum imports occurred in the first 11 months of the year, according to a report released by GDC.

Two petrochemistry projects stopped by authorities because of long delays

Shortly after the $22 billion petrochemistry & oil refinery project in Binh Dinh province was withdrawn by local authorities because of delay, another project in Can Tho has been stopped for the same reason.

Nghi Son oil refinery permitted to discharge waste into sea

The Thanh Hoa provincial authorities on November 1 decided to allow the Nghi Son Petrochemistry Company to discharge its wastewater into water sources in the Nghi Son Economic Zone.

Oil refinery projects: complications in investment incentives

Offering tax incentives is a method Vietnam uses to attract investors to oil refinery projects. With the incentives, investors can get benefits of billions of dollars. However, the incentives are the cause of many unsettled problems.

Formosa to operate six chimneys, raising concerns about air pollution

MONRE says that Formosa is about to begin operating six out of 23 chimneys on a trial basis. Experts have warned that the spread of toxic gas will cause serious pollution if the emissions are not strictly supervised.

VN’s oil exports to be curtailed

The Ministry of Industry and Trade wants petroleum products from the Dung Quất Oil Refinery consumed domestically and not exported.

Can a Japanese conglomerate rescue Vietnam’s Nghi Son oil refinery?

VietNamNet Bridge - With Idemitsu and its partner KPI planning to distribute petroleum products from Nghi Son Oil Refinery, a way out for Nghi Son has been found. 

Oil refinery projects delayed on oil price slump

VietNamNet Bridge - The continued sharp fall in the oil price has caused investors to hesitate starting the oil refinery projects they promised. Sources said some investors may give up the projects.

Vietnam pays heavy price for petrochemistry industry

VietNamNet Bridge - Vietnam has vowed to develop its petrochemistry industry and has spent a great deal of money on doing so.

Vietnam pays heavy price for petrochemistry industry

VietNamNet Bridge - Vietnam has vowed to develop its petrochemistry industry and has spent a great deal of money on doing so.

Projects slow Vietnam’s petrochemistry industry

VietNamNet Bridge - Key petrochemical projects have been proceeding at a snail’s space, which will affect Vietnam’s petrochemistry industry development plan.

The more Dung Quat refinery gets, the more it wants

VietNamNet Bridge - The Ministry of Finance (MOF) has agreed to cut the petroleum import tariff by 10-15 percent. However, the Dung Quat Oil Refinery still insists on tax cuts on some other products.

Investors expected to stay with petrochemistry projects despite oil price drop

Most of the planned petrochemistry and oil refinery projects have not been implemented as initially scheduled, but experts still think the projects deserve investment.

Oil refinery super-projects ask for $1 billion from state budget

VietNamNet Bridge - Local authorities have asked for state financial support of $1 billion for oil refinery projects, but the amount of money goes far beyond the state budget capability.