Vietnam Petroleum Demand Forecast at 16M Tons This Year
Vietnam’s petroleum demand is forecast at 16 million tons this year, up 6.67% from a year earlier driven by increasing number of cars and industrial production.
The country consumed 15 million tons of the products last year, up 4% on year.
In order to meet the increasing demand, Vietnamese Deputy Prime Minister Hoang Trung Hai has recently urged the Ministry of Industry and Trade to promptly map out incentives for bio-fuel development projects in the country.
Currently, the nation has two bio-diesel production projects using animal fat as input materials in Can Tho City and An Giang province with a combined capacity of 80 tons a day as well as a lot of projects using cassava and molasses scattering nationwide.
The Southeast Asian country plans to put into operation five ethanol plants with a combined annual capacity of 365,000 tons by end-2011, which can produce 7.3 million tons of ethanol-blended gasoline (Gasohol E5).
The nation plans to produce 1.8 million tons of ethanol and vegetable fuel oil by 2025 in order to meet 5% of the national petroleum demand.
The national demand for ethanol is forecast to hit 300 million liters in 2012. (VNS)
Vietnamese
