The Southeast Asian nation charts a meticulous course to enhance its strategic stockpiles and logistical networks for petroleum products and natural gas, aiming to fortify energy security amid fluctuating global dynamics.
The Binh Son Refining and Petrochemical Joint Stock Company (BSR), which is responsible for receiving, managing, and operating the Dung Quat Oil Refinery Plan, has said that the refinery’s capacity has increased to 109 per cent to meet shortages in the petroleum market.
The Ministry of Finance has reported that reductions to floor levels in environmental protection taxes for gasoline, oil, and grease will cut State budget revenue this year by more than VND33 trillion ($1.4 billion).
The Vietnam Oil and Gas Group (PetroVietnam) has proposed that the government invest in a refinery and petrochemical complex and a national reserve of crude oil and petroleum products at the Long Son Petroleum Industrial Park in southern Ba Ria-Vung Tau province with total investment of $17-18.5 billion. Completion is expected in 2027.
