PetroVietnam to boost capacity of Dung Quat refinery

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Vietnam Oil & Gas Group, or PetroVietnam, plans to increase the annual capacity of Dung Quat refinery to 10 million metric tons in the next 18 months at the earliest, an official said.

The plant is running at full capacity currently, Nguyen Hoai Giang, general director of the operator Binh Son Refinery and PetroChemical Co., said in a telephone interview Monday. The facility's annual capacity is 6.5 million tons at present.

Binh Son Refinery, a unit of PetroVietnam, plans to import as much as 100,000 tons of crude oil in August, Giang said, without elaborating.

For the full year, the company will import about 5.2 million tons, he said, adding that the refinery's revenue may reach VND63 trillion (US$3.3 billion) in 2010.

Vietnam started commercial production at Dung Quat, the country's first oil refinery, in February last year. The plant is designed to supply about one-third of the nation's fuel demand in 2010.

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