PetroVietnam sets goal for 2015

Vietnam Oil and Gas Group (PetroVietnam) has set a goal of producing 45 million tons of petroleum products by the year 2015.  Currently, the company is producing 6.177 million tons of petroleum products per year.  This includes the production of 5.71 million tons from the country’s first oil refinery Dung Quat.  The company is pushing for foreign investment in the Dung Quat refinery, to enable it to increase annual crude throughput to 10 million tons of crude oil.  Plans are underway to also increase the capacity of the Phu My condensate processing plant to 76,700 cubic meters, from 31,000 cubic meters. (May 17, 2011)