PetroVietnam begins expansion of Cai Lan terminal

Vietnam’s second-largest oil importer, state-owned PetroVietnam Oil Corporation, said it has begun expanding the capacity of the Cai Lan terminal from 10,000 cubic meters to 70,000 cubic meters. The US$12.9 million expansion project is expected to meet the increasing demand for oil products in the province of Quang Ninh. The first phase of the project is scheduled for completion in the fourth quarter of this year. PetroVietnam is also planning to build a port to facilitate the distribution of its petrol products from the depot. The company has a 21% share of the local market. Last year, PetroVietnam sold 3.1 million metric tons of petroleum products, a 7% increase over sales in 2010. (March 5, 2012)