Vietnam First Oil Refinery Posts Revenues of VND48T so far
Vietnam’s first oil refinery Dung Quat has earned revenues of VND trillion ($2.513 billion) since its first operation on Feb. 22, 2009.
The plant’s management board told an inspection group of the National Assembly Science, Technology and Environment Committee that inspected the refinery on Aug 9.
The refinery is estimated to make a pretax profit of $1 million per day, said the management board of the Dung Quat economic zone where is the plant’s location.
The $3.054-billion plant, located in the central province of Quang Ngai, has refined 5.3 million tons of crude oil into over 4.6 million tons of products and provided over 4.4 million tons of the products to the market during the period, the board attributed.
Recently, the government of Vietnam gave a nod to a project to increase the refinery’s annual capacity to 10 million tons from the current 6.5 million tons.
The investor, the state-run Vietnam Oil and Gas Group (PetroVietnam) is calling for foreign investors to buy a 49% stake in the refinery and plans to seek partners to equitize the refinery in the next two years when the plant operates stably.
The $3.054-billion plant is expected to refine 5.2 million tons of crude oil into 4.18 million tons of products this year, bringing in revenues of VND63 trillion and pay taxes of between VND7.45 trillion and VND8.8 trillion during the year.
P.V
Vietnamese
