Vietnam is set to start construction of a USD 6 billion oil refinery in the central Thanh Hoa Province, in a bid to become self-sufficient in oil products. The Nghi Son refinery, to be operational by 2013, is designed to produce 2.1 million tons of gasoline of 92, 95 and 98 octane grades, 2.67 million tons of diesel, 790,000tns of kerosene and jet fuel as well as 500,000tns of liquefied petroleum gas annually. The state-run oil group PetroVietnam holds a 25.1% stake in the plant while Japanese refiner IdemitsuKosan Co. and Kuwait Petroleum International each maintain a 35.1% stake. A fourth partner, Mitsui Chemicals Inc., takes a 4.7% share in the project. Vietnam’s first refinery, the 140,000bpd Dung Quat facility – 100% -owned by the government – is scheduled to go on stream in 2009.
