9:00:33 AM | 20/10/2008
PetroVietnam Oil Corporation (PV Oil), an affiliate of the state-owned oil monopoly PetroVietnam group, has recently clinched some agreements worth US$3 billion in total to supply crude oil and other materials for the Vietnam's first oil refinery Dung Quat, the Young People newspaper reported.
Under the deals, PV Oil will provide 2.16 million tons of crude oil for the plant, of which 160,000 tons will feed the refinery’s trial run, the Thanh Nien Daily newspaper said.
PV Oil will also supply additive chemicals and straight-run oil for the oil refinery, the contracts said.
PetroVietnam is negotiating with BP of the U.K. and Shell of Holland to seek foreign crude oil sources to replace about 30 per cent of raw materials from the country's biggest oilfield Bach Ho for the oil refinery.
The underway US$2.5-billion refinery will experience trial run from February 25 of 2009 to August of 2008, and be put into operation from September next year.
With expected products of propylene, liquefied petroleum gas (LPG), lead-free petrol, diesel and fuel oil, the plant is expected to meet 33 per cent of the country’s entire demand for petrol and oil. (Young People, Thanh Nien Daily)
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