Vietnam to have 3 oil refineries by 2009
Vietnam has planned to put into operation, by 2009, three oil refineries with total annual capacity of processing 14.5 million tons of crude oil, local newspaper Vietnam Economic Times reported Monday.
The country started to build its first refinery in central Quang Ngai province late last year. Capitalized at 2.5 billion U.S. dollars, the refinery with an annual capacity of 6.5 million tons of crude oil is expected to become operational in late 2008 or early 2009.
A Chinese Hong Kong-invested project on building a refinery in central Binh Dinh province with annual capacity of 5 million tons has recently been approved by the Vietnamese government. The 1.5- billion dollar project is expected to come into operation in 2009.
Recently, a feasibility study of another oil refinery project has been submitted to the country's Ministry of Planning and Investment. The refinery with annual capacity of 3 million tons, to be located in central Phu Yen province and invested by Britain and the Netherlands has been planned to operate in 2009.
Vietnam has eyed to have two more oil refineries with annual capacity of 7 million tons each in central Thanh Hoa province and in the southern region by 2020, the report said.
Vietnam exported nearly 1.6 million tons of crude oil valued at 640 million dollars in January, down 8.7 percent in volume but up 13.7 percent in value against last January, according to the country's General Statistics Office.
Meanwhile, it imported over 950,000 tons of petroleum products worth 440 million dollars, posting respective rises of 1.8 percent and 48.7 percent.
Xinhua - February 20, 2006.
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