Vietnam to continue importing petrol, diesel in next 5 years

Source: Xinhua| 2017-06-27 12:20:33|Editor: ying
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HANOI, June 27 (Xinhua) -- Vietnam will continue to annually import an average of 0.8 million tons of petroleum products and 1.8 million tons of diesel in the next five years, local media reported on Tuesday.

Vietnam will likely to import the petroleum products and diesel oil in the next five months from countries including China, Malaysia, Singapore, South Korea and Thailand, newspaper Thoi Bao Kinh Te Sai Gon (The Saigon Times) quoted Binh Son Refining and Petrochemical Company, which manages and runs Vietnam's biggest oil refinery named Dung Quat in central Quang Ngai province, as saying.

According to the company, Vietnam's annual demand for petroleum products will stand at some 6.5 million tons, and for diesel around 8.5 million tons in the 2018-2022 period.

Nghi Son oil refinery with a design capacity of processing 10 million tons of crude oil a year in central Thanh Hoa province is scheduled to become operational next year. It will annually provide the domestic market with around 2.3 million tons of petroleum products, and nearly 3.7 million tons of diesel oil.

Since it became operational fully in 2011, Dung Quat oil refinery has produced over 47 million tons of products, mainly liquefied petroleum gas, petroleum, diesel oil and jet fuel.

Vietnam imported nearly 5 million tons of petroleum products worth over 2.6 billion U.S. dollars in the first five months of this year, down 6.8 percent in volume but up 27.4 percent in value against the same period last year, said the country's General Statistics Office.