JBIC asked to help restructuring of loss-making oil refinery in Vietnam

JBIC asked to help restructuring of loss-making oil refinery in Vietnam

Vietnamese Prime Minister Pham Minh Chinh has asked the Japan Bank for International Cooperation (JBIC) to get involved in the restructuring of loss-making Nghi Son Refinery and Petrochemicals LLC (NSRP), the second oil refinery in the country.

Economy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Nghi Son oil refinery needs to cut losses quickly: Vietnam PM

Nghi Son oil refinery needs to cut losses quickly: Vietnam PM

Japan’s Idemitsu Group and its partners need to improve governance, develop efficient operational processes, and apply modern technology to reduce input costs, cutting losses at the Nghi Son oil refinery as soon as possible, said Prime Minister Pham Minh Chinh.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s Nghi Son refinery can move into the black soon: Idemitsu Kosan

Vietnam’s Nghi Son refinery can move into the black soon: Idemitsu Kosan

The Nghi Son oil refinery, the second of its kind in Vietnam, can achieve positive profits in the fiscal year 2023 (ending March 2024), according to Japan’s Idemitsu Kosan, which holds a 35.1% stake in the facility.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Nghi Son oil refinery needs personnel, financial restructuring: Prime Minister

Nghi Son oil refinery needs personnel, financial restructuring: Prime Minister

Nghi Son Refinery and Petrochemical LLC (NSRP), which operates the Nghi Son oil refinery in central Vietnam, needs to push ahead with personnel, governance and financial restructuring, said Prime Minister Pham Minh Chinh.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

World’s No. 1 oil firm Aramco eyes petrochemical plant in Vietnam

World’s No. 1 oil firm Aramco eyes petrochemical plant in Vietnam

State-owned Saudi Arabian Oil Group, or Aramco – the world’s largest oil producer, has expressed interest in building a petrochemical plant in Vietnam, which has been a net energy importer for years.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam plans to raise green hydrogen output

Vietnam plans to raise green hydrogen output

Vietnam plans to expand its annual hydrogen output produced by renewable energy to 100,000-200,000 tons in 2030 and 10-20 million tons in 2050, according to a draft strategy released by the Ministry of Industry and Trade.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Malaysia’s PETMAL Oil eyes $2 bln refinery project in Vietnam

Malaysia’s PETMAL Oil eyes $2 bln refinery project in Vietnam

Malaysia’s PETMAL Oil Holdings is seeking to invest in a 500-hectare oil refinery with an initial capital of $2 billion in Nam Phu Yen Economic Zone, the south-central province of Phu Yen.

Investing - Mon, Dec 22, 2021 | 11:30 am GMT+7

Credit rating for Dung Quat refinery operator could reach positive level BB-/BB: Mizuho

Credit rating for Dung Quat refinery operator could reach positive level BB-/BB: Mizuho

Binh Son Refining and Petrochemical JSC, operator of Vietnam’s oil refinery Dung Quat, can see its credit rating reach the positive level of BB-/BB, according to the Singaporean branch of Japanese bank Mizuho.

Companies - Mon, Dec 22, 2021 | 11:30 am GMT+7

Laos, US firms eye fuel storage facility in central Vietnam

Laos, US firms eye fuel storage facility in central Vietnam

Quang Tri province authorities have agreed in-principle with a proposal to invest in a bonded warehouse for fuel by a joint venture of firms from Laos, Vietnam, and the U.S.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Vietnam’s biggest refinery to import 2.52 mln tons of crude oil in Q4

Vietnam’s biggest refinery to import 2.52 mln tons of crude oil in Q4

Nghi Son, Vietnam’s largest refinery, is importing 2.52 million tons of crude oil between October and December while running at full capacity to help maintain stable supplies of petroleum products in the domestic market.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7

Petrovietnam to expand Dung Quat oil refinery with $1.2 bln investment

Petrovietnam to expand Dung Quat oil refinery with $1.2 bln investment

Petrovietnam has proposed an investment of $1.26 billion to expand the Dung Quat oil refinery's capacity to 171,000 barrels per day or 7.6 million tons a year, from the current figure of 6.5 million tons, subject to prime ministerial approval.

Investing - Mon, Dec 22, 2021 | 11:30 am GMT+7

Thai consortium proposes petrochemical complex in central Vietnam

Thai consortium proposes petrochemical complex in central Vietnam

Major rice producer Asia Golden Rice (AGR) and two other firms from Thailand have proposed building a petrochemical compound with power plants and support industry factories in Thua Thien-Hue province.

Industries - Mon, Dec 22, 2021 | 11:30 am GMT+7

Zarubezhneft, Gazpromneft seek opportunities from 1st Vietnam oil refinery

Zarubezhneft, Gazpromneft seek opportunities from 1st Vietnam oil refinery

Two Russian companies, Zarubezhneft and Gazpromneft, have sent their working missions to Petrovietnam-owned Dung Quat Oil Refinery to explore investment cooperation opportunities.

Energy - Mon, Dec 22, 2021 | 11:30 am GMT+7