The national oil and gas group PetroVietnam, which has insisted on building biofuel plants as part of a biofuel development strategy, has halted the operation of the Dung Quat bio-ethanol plant.
Bio-Ethanol Dung Quat, a bio-fuel factory owned by the Vietnam Oil and Gas Group (PetroVietnam), has halted operations due to continuing losses.
The national oil and gas group PetroVietnam has said it does not want to be responsible for the consumption of Nghi Son’s products which cannot meet the Euro 4 emission standard.
Two giant cranes made domestically were shipped to Nghi Son Oil Refinery Port in the north-central coastal province of Thanh Hoa.
Though Dung Quat oil refinery can meet only one-third of domestic demand, the Vietnam National Oil and Gas Group (PVN) has predicted that oil and gas supply could exceed demand in 2018.
The proposal by the national oil and gas group PetroVietnam to force domestic enterprises to buy petroleum products from domestic sources will create a monopoly, the Ministry of Planning and Investment (MPI) has warned.
Oil and gas behemoth PetroVietnam has demanded that all local fuel businesses be obliged to buy products of its refinery before purchasing from foreign sources, but the demand has been turned down by relevant ministries.
Vietnam National Oil and Gas Group (PetroVietnam) is seeking approval to lower tax rates at the Dung Quat Oil Refinery because of a lack of competitiveness against imported fuels.
The shares of oil and gas companies have seen a price decrease of 49% by November compared with the same period last year, the sharpest so far.
State-owned Binh Son Refining and Petrochemical Company, which is managing the country's sole oil refinery Dung Quat, will complete its equitization process next year, local media reported.
The appearance of PTT in Vietnam has raised curiosity about how the petroleum market, in which Dung Quat satisfies one-third of demand, is restructured.
(VOV) - Japan's top oil refiner, JX Nippon Oil & Energy Corp, has unveiled plans to go ahead with refinery projects in Vietnam as it seeks to expand in overseas markets to offset shrinking domestic demand.
The Ministry of Finance recently lowered import tariffs on some fuel products in a move to stabilize domestic retail prices before an environment tax increase this May.
Vietnam’s oil giant PetroVietnam has just raised concerns over the country’s impending implementation of free trade agreements, claiming this could negatively affect budget contribution of the country’s first oil refinery at Dung Quat and the profitability of the group.
(VOV) -Dung Quat oil refinery plant is set to expand its operation to increase production capacity from the current 6.5 million tonnes to 8.5 million tonnes in the next few years, announced the management board of Dung Quat industrial zone (IZ) in central Quang Ngai province on January 23.
(VOV) -Three additional projects are expected to receive investment license to operate in Dung Quat Economic Zone (EZ) in central Quang Ngai province at the end of this year, with a total capitalization of more than VND4,000 billion.
(VOV) - Bilateral cooperation between the Vietnam National Assembly (NA) and the Federation Council of the Russian Federation (FCRF) has been consolidated and flourished in recent years.
(VOV) -Endowed with beautiful beaches and modernised seaports, the central region has many advantages to transform into a thriving and prosperous coastal urban area, said Deputy Prime Minister Nguyen Xuan Phuc.
(VOV) -The Ministry of Transport has enacted a revised zoning plan increasing the number of ports at the Dung Quat deep water seaport No2 in Dung Quat Economic Zone (EZ) in central Quang Ngai province to 27 by 2030.
The Dung Quat Oil Refinery needs up to US$2 billion to raise its annual processing capacity from its current 6.5 million tonnes to 10 million tonnes in the future.