Vietnams Crude Oil Export May Fall by 4 Mln Tons in 2009
Vietnam is likely to cut its crude oil export volume by four million tons next year to serve operation of the country’s first oil refinery Dung Quat expected for Feb 25 of 2009, the Dau Tu (Investment) newspaper reported.
In the first year of operation, Dung Quat refinery is forecast to run at between 70 per cent and 75 per cent of its capacity to refine around four million tons of crude oil, the paper said.
The Ministry of Industry and Trade estimated earlier that the country plans to export 15 million tons of crude oil this year, meaning that Vietnam's total export volume in 2009 will shrink to around 11 million tons.
Kicked off in June 2005, the US$2.5 billion Dung Quat oil refinery is expected to process 6.5 million tons of crude oil a year once fully operational.
The plant will produce products of propylene, liquefied petroleum gas (LPG), lead-free petrol, diesel and fuel oil and expected to meet 33 per cent of the country’s entire demand for petrol and oil. (Investment)
Vietnamese
