PetroVietnam operates Vung Ang Petroleum Depot

PetroVietnam Oil Corporation (PV Oil) put into operation Vung Ang petroleum base depot in the central coastal province of Ha Tinh in the presence of Deputy Prime Minister Nguyen Sinh Hung on February 13. Construction of the depot started in October 2007 on an 8-hectare area at the Vung Ang Economic Zone in Ky Anh district. The VND257 billion (US$12.85 million) depot includes petroleum storage with a capacity of 60,000 cubic meters, a 15,000-DWT wharf, and other supporting facilities. PV Oil plans to raise the depot’s petroleum storage by 50,000 cubic meters to 110,000 cubic meters between 2012 and 2015, and they expect to provide nearly 300,000 cubic meters of petroleum products for the domestic market and pay taxes of VND100 billion (US$4.79 million) in 2011. (February 14, 2011)