Since the Dung Quat Oil refinery – the first in Vietnam - was put into operation in 2009, it has served as a booster for the Dung Quat Economic Zone and the central province of Quang Ngai as a whole to lure both domestic and foreign investments.

The central province of Quang Ngai has called for investment and cooperation from US businesses in energy, oil refining and industrial environment treatment technology, and to join the second phase of the Dung Quat Refinery upgrading and expansion project.

The Hoa Phat Dung Quat steel company has announced the reception of its first tugboat, built by Damen Group from the Netherlands, to serve the firm’s port system.

Despite oil price declines, the Vietnam Oil and Gas Group (Petrovietnam) posted VND18.2 trillion (US$775.5 million) in consolidated pre-tax profit in the first four months of 2023, surging 77% from its target for the period and equivalent to 52% of this year’s plan.

Dung Quat oil refinery in the central province of Quang Ngai will be expanded to raise its capacity to 171,000 barrels per day, up from 148,000, with a total investment of US$1.26 billion.

The Vietnam Oil and Gas Group (PVN) recorded total revenue of VND931.2 trillion and pre-tax profit of over VND82.2 trillion (around US$3.5 billion), the highest in 61 years of the Vietnamese oil and gas industry’s history.

A grand ceremony commemorating the 100th birth anniversary of Prime Minister Vo Van Kiet (1922-2008) took place on November 23 in the Mekong Delta province of Vinh Long – the late leader’s native place.

VOV.VN - Binh Son Refining and Petrochemical JSc (BSR) that owns Dung Quat Oil Refinery made a profit after tax of VND12,899 billion, more than 3 times higher than the same period in 2021.

National Assembly Chairman Vuong Dinh Hue on July 25 asked the Binh Son Refining and Petrochemical JSC (BSR), a wholly-owned subsidiary of PetroVietnam, to mobilise all resources for the expansion and upgrading of the Dung Quat Oil Refinery.

Over-reliance on input material imports, small production value and outdated technology were among the major weaknesses of Vietnam's steel industry, said a recent report by the Ministry of Industry and Trade.