Vietnam's Binh Son refinery has enough crude oil to operate until early July
Vietnam's Binh Son Refining and Petrochemical said on Monday it has secured enough crude oil to operate until early July.
The 130,000-bpd refinery will buy all crude oil produced domestically for its operations, the company said in a statement.
The company is aiming to earn net profits of 2.2 trillion dong ($83.52 MM) this year, it said.
It will sign a contract soon with a key contractor for the project to expand the refinery, it said, adding that the expansion is scheduled for completion by the end of 2028.
The refinery will undergo a major maintenance program in 2027, it said.
State energy firm Petrovietnam will ultimately reduce its stake in the refinery to 49% from over 92%, it said.
Vietnam's crude oil output in the first quarter this year rose 11.5% from a year earlier to 2.17 million tons, according to government data.
($1 = 26,340 dong)
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