The Dung Quất Oil Refinery Plant in the central province of Quảng Ngãi. — VNA/VNS Photo

QUẢNG NGÃI – The Dung Quat Oil Refinery Plant in the central province of Quảng Ngãi, operated by the Bình Sơn Refining and Petrochemical Company (BSR), processed more than 100 million tonnes of crude oil and materials after 15 years of operations.

The BSC said on January 18 that over the past 15 years, the refinery plant has operated safely and stably at up to 110 per cent of its designed capacity, helping to ensure energy security and economic development in the locality and the nation as a whole.

Since 2009, the plant has gained more than VNĐ1.57 quadrillion (US$63.66 billion) in revenue, contributed around VNĐ220 trillion to the state budget and earned after-tax profit of VNĐ49.2 trillion.

According to BSR Chairman Nguyễn Văn Hội, the company will continue purchasing materials from both domestic and foreign partners, and enhancing the processing so as to increase oil and gas supply for the market.

Last year, the BSR’s output topped 7.35 million tonnes, exceeding 31 per cent of the yearly plan.

In January and February of 2024, the Dung Quất refinery plant plans to produce more than 1 million tonnes of products.

The refinery will be expanded to raise its capacity to 171,000 barrels per day, up from 148,000, with a total investment of $1.26 billion..

Under a decision signed by Deputy Prime Minister Trần Hồng Hà, the BSR will provide $503 million from its equity and the remaining from loans.

The company, a subsidiary of state-owned Vietnam Oil and Gas group (Petrovietnam), will set up and put into operation additional technology workshops for the processing of crude oil with higher sulfur content in accordance with the “Euro 5 standard”. The 10.6ha refinery will be expanded by 41ha, and is scheduled to be finished in the first quarter of 2028.

Việt Nam is currently home to two operational oil refineries. In addition to Dung Quất, the Nghi Sơn Refinery and Petrochemical LLC located in the north-central province of Thanh Hóa is the country’s latest and largest refinery. — VNS