Do More With Reuters
Partner Services

Vietnam refinery to use 30,000 bpd of Bach Ho from Feb

Mon Jul 21, 2008 8:26am IST
 
Email | Print | | Single Page
[-] Text [+]

HANOI, July 21 (Reuters) - Vietnam's first refinery will use about 30,000 barrels per day of Bach Ho crude oil when it is put into trial operation in February next year, a Petrovietnam official said on Monday.

The 140,000-bpd Dung Quat refinery will run at 30,000-bpd capacity for about three months between February and May, after which production would be doubled to 60,000 bpd, the official, who declined to be identified, said.

"We aim to have the refinery running at 100 percent capacity by the end of 2009," he added.

Last week Petrovietnam said it had completed 84 percent of the construction and engineering work at the $2.5-billion plant.

Petrovietnam, which now exports all of its Bach Ho output, which averages about 140,000 bpd, is expected to cut exports of the grade from December to around 100,000 bpd to save for Dung Quat's feed.

Production from the Bach Ho oil field, Vietnam's biggest, accounts for about half of the country's total crude oil production of about 290,000 bpd.

Petrovietnam and Japanese refiner Idemitsu (5019.T: Quote, Profile, Research) and Kuwait Petroleum International are also building Vietnam's second refinery, the $6 billion 200,000-bpd Nghi Son plant, in the country's north, with completion slated in 2013. (Reporting by Nguyen Nhat Lam; Editing by Michael Urquhart)

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

road to Copenhagen

BLOGS

Photo
Calculated Move

Reliance aims big with $12 bln bid for LyondellBasell.  Blog 

SHOWCASE

Capital Raising
Capital Raising

Analysis - China banks' rush for billions could trip markets.  Full Article 

 
Photo
Bonus Payout

"Bonus" has become a dirty word on Wall Street.  Full Article 

 
Bubble trouble?
Bubble trouble?

With the BSE Sensex at around 17,000 points, are the Indian equity markets looking at a possible bubble?   Commentary 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Recovery Path
Recovery Path

Indian techie logging out of downturn gloom.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
Risky Proposal
Risky Proposal

Rupert Murdoch courts trouble if he blocks Google on news.  Full Article