UK-Russian venture plans oil refinery – Liên doanh Nhà máy lọc dầu Nga – Anh tại Phú Yên

The country’s first wholly foreign-invested oil refinery project was licensed on November 18 by the People’s Committee of the central province of Phu Yen .

The UK’s Technostar Management Ltd and Russia’s Telloil will form a joint venture to build the Vung Ro Oil Refinery at a total cost of 1.7 billion USD. The facility will occupy 200 ha of land and 210 ha of water surface near the Vung Ro port in the province’s Dong Hoa district.

Technostar will hold 51 percent ownership in the project, which would become the nation’s fourth oil refinery currently planned or under construction.

The project is expected to supply the domestic market with four million tonnes of refined petroleum products annually at the end of its 500 million USD first phase, to be completed in 2011. The project’s output will be increased to eight million tonnes yearly at the end of the second phase in 2013.

Crude oil for the refinery will be obtained from Petro Vietnam as well as imported from Middle East sources.

Under the terms of the licence, the project would enjoy an exemption of land use rental fees for the first 11 years of operation and a corporate income tax rate of only 15 percent for the first 12 years of operation, compared to the general rate of 28 percent.

Vietnam ’s annual demand for petroleum products is estimated to surge to 20 million tonnes by 2012, from 12.5 million tonnes in 2006.

To meet the rising domestic demand, Petro Vietnam is working on oil refineries in Quang Ngai, Thanh Hoa and Ba Ria-Vung Tau provinces. When all four are fully operational, their combined production output will total 20 million tonnes per year.

Vietnam imported 10.4 million tonnes of refined petroleum products in the first 10 months of this year, up 12.1 percent over 2006, according to the General Statistics Office. The imports in the first 10 months cost 5.85 billion USD, 16 percent over the same period last year.

Lacking refining capability, the nation exported over 12.4 million tonnes of crude oil equivalent in the same 10-month period, worth nearly 6.65 billion USD, representing year-on-year declines of 9.9 percent in volume and 7.5 percent in value.(Source: VNA)

Read more news on Vung Ro Oil Refinery

12 Responses

  1. Good news for my poor homeland of Phu Yen. Hope that the project will be implemented soon!😀

  2. Right after Dung Quat Oil Refinery, really?

  3. Dung Quat will go into operation late 2008 or early2009. Phu Yen may start sooner.

  4. I thinks very soon for start Oil refinery

  5. I hope that this project will start immediately and will be completed after 48 months.
    If you know the EPC contructor for Vung Ro Refinery, please let me know.
    Thanks!

  6. I was born in Phu Yen province & my house at Hoa Xuan disctrict . At present , I am working in field software development at Japan company at TPHCM.
    I aslo hope that Vung Ro refinery oil+ Hoa Tam naptha cracking refinery oil and will start immediately sooner in poor Phu Yen land.
    In the future , everybody will be return to hometown to works at theses projetcs

  7. I was born in Phu Yen province & my house at Hoa Xuan disctrict . At present , I am working in field software development at Japan company at TPHCM.
    I aslo hope that Vung Ro refinery oil+ Hoa Tam naptha cracking refinery oil and will start immediately sooner in poor Phu Yen land.
    In the future , I hope that everybody working other place will be return to hometown to works at theses projetcs

  8. I was born Tuy Hoa city, Phu Yen Provine. I’m very happy because PY have many projects right now.
    In near future, I hope I will come back and working at projects

  9. Hi everyone can anyone give me more details about Phu Yen Province

  10. Hi, If you could give me the name of the PMC and the EPC contractor for this project. I want to find out if any of the job still available can be applied from here. Appreciate you assistance.
    Thank you.

  11. Ban quan ly du an la ai? Lam the nao de co the lien he voi ban quan ly du an?

  12. Lam the nao lien he voi ban quan ly du an?

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