The December issue of the World of Petroleum and Bitumen
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Vietnam is aiming at becoming Asian manufacturing hub of refining and petrochemical products with plans to upgrade and build mega complex in Nghi Son, Dung Quat and Vung Tau. For foreign potential investors, there are enduring risks associated with land acquisition and regulatory approval as well as regional market over-supply . However , from where we had visited last year , the Vietnam government has strong incentives to attract downstream investment. PetroVietnam plans to build oil refinery complex for $18.5 billion. The company informed Prime Minister Pham Minh Chinh of its construction plans. If the plan materializes, it would be the third refinery in the nation. The refinery will be built in the southern province of Ba Ria-Vung Tau. Upon completion, it will be able to process 24 million to 26 million tons of crude oil per year. The construction period is divided into two phases. The investment for the first and second phase is expected to be up to $13.5 billion and $5 billion, respectively. The company will also construct a facility for storing petroleum products. Vietnam Refining and Petrochemical forum 2025 ( April 24-25 in Hanoi) is designed to address the above key and widely concerned issues and topics. Policy makers, refiners, petrochemical producers and technology suppliers are supposed to gather and share minds and knowledge.
International Event on Bitumen,Base Oil Petrochemicals & Oil Products 21-22 August
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