Sign up | Log in



Home  >>   Daily News  >>Vietnam>>Energy>> Experts call for Gov't review of local oil refinery development
NEW UPDATES Asean Affairs   9  December  2015  

Experts call for Gov't review of local oil refinery development

The Government should review the development of many oil refinery projects due to difficulties being faced in the investment process, and investment incentives for oil refinery plants, experts said.

Under the initial plan, the Nhon Hoi oil refinery plant in Binh Dinh Province with a total investment of US$22 billion from the PTT, a Thai oil and gas group, was scheduled to be granted an investment licence in June but till now, the project has not received one, Hai quan (Customs) newspaper reported.

The Southern Petrochemical Refinery Complex project invested by the Long Son Chemical and Oil Ltd Company also faced hurdles in implementing the project.

The Nghi Son Petrochemical Refinery Complex in Nghi Son, Thanh Hoa Province with an investment of $9.9 billion from a Japanese investor faced a similar situation. By August, implementation of the project's engineering, procurement and construction (EPC) contract has reached 63.9 per cent, 6.24 per cent lower than its plan.

The project is under development, but the Viet Nam National Oil and Gas Group (PetroVietnam), the company that procures products of the Nghi Son project, expected the plant to begin commercial operations in 2017 and will reach its designed capacity by 2018.

The PetroVietnam has said it will be difficult to procure products of the Nghi Son oil refinery plant, so the group has proposed to the ministries of Finance and of Industry and Trade to provide import quotas of oil after restoring the balance between demand and supply.

That action will create opportunities for the local refinery plants such as Nghi Son and Dung Quat to sell their products and ensure efficiency in investment of the projects and the national energy security, PetroVietnam has said.

In addition, the PetroVietnam has also suggested to the Government that they reduce import tariffs of diesel oil for the Dung Quat oil refinery plant to 7 per cent by this year end to solve difficulties in business of the plant.

Ngo Minh Hai, deputy head of the Club of State-owned Enterprises under the Central Institute of Economic Management, said the Government should consider carefully preferential policies and support for oil refinery projects.

The Government should tighten preferential policies for the oil refinery projects because now, the nation has many oil refinery projects, and that would promote competitiveness between the oil refineries, he said.

Nguyen Mai, chairman of the Association of Foreign Invested Enterprises, said the Government should reconsider development of the oil refinery industry and give other industries such as electronic and micro-biological industries the chance to develop.

Luu Bich Ho, former head of the Development Strategic Institute under the Ministry of Planning and Investment, said the Government should not extend preferential policies to oil refinery plants to improve their competitive ability, and restructure the oil refinery industry.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           December 9 , 2015 Subsribe Now !
• VN exports to Mexico to jump 45% from year ago Subcribe: Asean Affairs Global Magazine
• Private home resale prices up 0.6% in November: Property index
• Kingdom rice production to top 9.2 million tonnes
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Gov’t mulls revenue system for public transport companies
Experts call for Gov't review of local oil refinery development
Asean Analysis                   December 4, 2015
• Asean Analysis December 4, 2015
Southeast Asian Nations Watch Paris for Deal to Cut Greenhouse Gases
Advertise Your Brand

Asean Stock Watch  December  4,  2015
• Asean Stock Watch-December 4, 2015
The Biweekly Update
• The Biweekly Update December 4, 2015

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2021 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand