The Vietnam Oil and Gas Group (PetroVietnam) has proposed to the Government an investment in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products in Long Son Petroleum Industrial Park.

Vietnam will build another oil refinery, the third of its kind, to ensure a sufficient supply of petroleum products for local consumption, said Deputy Prime Minister Le Van Thanh.

Vietnam has two oil refineries, Dung Quat and Nghi Son. Every year Vietnam imports millions of tons of crude oil while still exporting crude oil. What is the reason?

After over four years since it was announced, the $22 billion Nhon Hoi petrochemical project officially proposed to withdraw from Vietnam’s oil and gas development plan. To date at least three foreign oil and gas groups have fled from Vietnam.

 Binh Dinh approves refinery plan; Economy struggles to cope with bad debt, slow growth; Domestic apparel sales predicted to rise 10-15%; Auto market growth seen unsustainable; Ho Chi Minh City sees significant economic recovery

 VietNamNet Bridge - Along with projects worth billions of US dollars, such as the Nghi Son, Long Son and Vung Ro oil refineries, work on a series of other large-scale projects for LG and Samsung has begun.

 Dinh Vu closes on deep sea access; Nam Van Phong refinery still in infancy, six years on; Haiphong Port IPO offers poor return; Central bank spends big on core banking; NA deputies question efficiency of bauxite projects

 Vietcombank sells 2.1 billion dollars to SBV; Hanoi eases loan costs for businesses; 1.3 billion USD earmarked for resettlement in power plant; Furniture fair spurs locally made products; Real estate market faces further challenges ahead

 VietNamNet Bridge – Economists have warned that Vietnam’s public debts would be no longer within the safety line after 2015, when it has to reserve 1/3 of the annual budget to pay debts.

Petrolimex official admits profits fall short of target; Viet Nam fishing for seafood sector development; Gloom in construction material market; Thai firm to build thermal power plant in Quang Tri

 Vinamilk invests heavily in dairy farming; Rice price drop forecast to spur trading; Seafood exports likely to reach US$6.5 bil.; Bkav on Gartner's ‘cool vendor' list; Brokerages merge to avoid bankruptcy