Vietnam 1st Oil Refinery Targets Revenues of VND77T in 2011
Vietnam’s first oil refinery Dung Quat expects to have revenues of VND77 trillion ($3.85 billion) this year, said Nguyen Hoai Giang, general director of the plant’s operator Binh Son Oil Refining & Petrochemical Co. Ltd (BSR).
The refinery targets to make a profit of VND550 billion and pay taxes of VND15 trillion in 2011, Giang attributed.
The plant, located in the central province of Quang Ngai, had refined 8.3 million tons of crude oil into 7.2 million tons of products since its first operation in Feb, 2009 by the end of 2010.
The $3.054-billion refinery had obtained a profit of VND237 billion on revenues of VND60 trillion, and paid taxes of VND10 trillion since May 30, 2010 by end-2010.
The investor, the state-run Vietnam Oil and Gas Group (PeVietnam) is calling for foreign investors to buy 49% stake in the refinery in order to mobilize capital for raising the plant’s capacity to 10 million tons of crude oil from current 6.5 million tons in 2016.
P.V
Vietnamese
