Till date, 98% of construction on the oil factory is complete. Regarding the product consumption, Ngoc added, PetroVietnam will be responsible for direct consumption of Dung Quat's first products.

Also, Japan's Marubeni Co will underwrite Dung Quat's propylene products until the polypropylene plant comes into operation. Vietnam Gas Corp will underwrite LPG product refined by Dung Quat factory while PV Oil pledged to underwrite other products such as gasoline, DO, FO and cooperate with Vinapco to underwrite Jet A1 product of Dung Quat.

Currently, Vietnam imports 13 million tonnes of fuel a year so the completion of Dung Quat Oil Refinery will have a significant impact for the country's economy, according to Ngoc.

The factory has a capacity of 6.5 million tonnes of crude oil a year. When fully operative, the factory will produce 150,000 tonnes of propylene, 300,000 tonnes of LPG per year, 1.9 million tonnes of all types of gasoline (including 3,000-5,000 tonnes of A90 a day, 2,700 tonnes of A92 and A95 a day, 400,000 tonnes of jet fuel a month, 3 million tonnes of diesel a year, and 300,000 tonnes of FO (mazut) a year.

Thoi Bao Kinh Te Vietnam - December 23, 2008