Việt Nam needs breakthrough policy mechanisms beyond tax incentives to accelerate plans for a national refining and energy hub at Dung Quất in the central province of Quảng Ngãi, as the country seeks to strengthen energy security amid global volatility.
The Dung Quất Biofuel Plant is accelerating production and is expected to reach full capacity around mid-April, supplying ethanol for nationwide E10RON95 biofuel blending.
Since 2012, BSR has cooperated with the Ministry of National Defence to develop fuel. Most fuels for defence equipment had previously been imported from abroad.
After four times of general maintenance, the number of maintenance days has been gradually shortened thanks to contractors and BSR’s experience in implementation.
Dung Quat oil refinery will be expanded to raise its capacity to 171,000 barrels per day, up from 148,000 barrels, with a total investment of US$1.26 billion.
In the context of complicated world developments with the risk of energy supply disruptions and rising energy prices, it was important to ensure energy security, in which ensuring adequate petroleum supply and increasing national reserve capacity were vital.
The State is facing big challenges in ensuring the fuel supply and stabilise domestic petrol and oil prices. Bui Ngoc Bao, chairman of the Vietnam Petroleum Association, speaks to Vietnam News Agency about those issues.
Bình Sơn Refinery and Petrochemical Joint Stock Company (BSR), the manager and operator of Dung Quat Oil Refinery Factory, has succeeded in processing some kinds of newly imported crude oil and marine fuel oil (MFO) for export.
The Dung Quat Oil Refinery Plant, operated by the Binh Son Refining and Petrochemical Company (BSR), produced more than 1.1 million tonnes of products in the first two months of 2019 using 108 percent of its designed capacity.