Vietnam approves third refinery

Prime Minister Nguyen Tan Dung approved PetroVietnam’s proposal to build a third oil refinery with a processing capacity of seven million tons a year. Vietnams national oil and gas corporation has said that the third refinery should be built in Long Son in southern Ba Ria Province, given its good infrastructure and proximity to crude oil supply sources as well as Ho Chi Minh City, the countrys largest consumer of oil products. According to the proposal, however, other locations in the central region could be an option, such as Doc Ham in Ninh Thuan province and Vung Ro in Phu Yen Province. The refinery, to be completed before 2015, will rely mainly on imported and locally tapped crude oil and its products must meet Euro IV standards. The first two oil refineries are being built in Dung Quat in Quang Ngai province and Nghi Son in Thanh Hoa Province. (February 3, 2007)