Vietnam calls for investments in petroleum depot

Vietnam’s central province of Bin Thuan’s local government is calling investors to establish a petroleum depot in the Phu Quy district, which is comprised of 10 islands, located 540 km west of the Spratly Archipelago. The Dau Tu newspaper reports that the facility will cover an area of 15,000 square meters. Further details are yet to be disclosed. Considered to be a petroleum importer, Vietnam is boosting construction of petroleum depots nationwide to put product distribution and transportation in place. The country is forecast to consume around 17 million tons of petroleum products next year, up from 16 million tons this year. (November 24, 2010)