PetroVietnam to produce 4.9 million tons of products this year

State-run Vietnam Oil and Gas Group (PetroVietnam) expects to produce 4.9 million tons of petroleum products in 2010, General Director Phung Dinh Thuc said at a press conference in Hanoi. The firm’s petroleum sales are forecast to rise by 21.99% from its earlier full-year target to 6.89 million tons this year. PetroVietnam is the investor of the national first oil refinery Dung Quat, which produced 1.77 million tons of petroleum products between January and May. PetroVietnam is speeding negotiations with its partners to raise the plant’s refining capacity to 10 million tons per year, from current 6.5 million tons. (June 11, 2010)