Vietnam awards $1.49-B refinery upgrade contract to Chinese consortium

Petrovietnam Refining and Petrochemical Corp., also known as Binh Son or BSR, on Thursday awarded a $1.49-B contract to a Chinese consortium to expand and upgrade its refinery in central Vietnam.

• The consortium consists of China Chengda Engineering and Beijing Petrochemical Engineering, BSR said in a statement.
• Under the 37-month contract, the consortium will raise the capacity of the refinery by 15.5% to 171,000 barrels per day.
• The project will also enable the refinery to process more types of crude oil.
• Petrovietnam Refining and Petrochemical is more than 92% owned by state energy firm Petrovietnam.
• The refinery, one of two in Vietnam, started commercial operations in 2009. It was designed to mostly process domestic Bach Ho crude oil.

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