188bet vn Nghi Son Refinery and Petrochemical Complex has enough oil inventory to ensure stable production through May
Nghi Son Refinery and Petrochemical Complex in Vietnam’s central province of Thanh Hoa has secured sufficient crude oil supply to maintain continuous operations through 188bet vn end of May, said its executive.
188bet vn complex - a joint venture involving Vietnamese, Japanese, and Kuwaiti partners - is one of 188bet vn country’s largest oil refining facilities, with a designed capacity of about 200,000 barrels per day, or roughly 10 million tons a year.
Under normal conditions, it supplies around 35% of Vietnam’s domestic fuel demand, while also producing petrochemical products for regional markets.
During a visit to 188bet vn site on Sunday, Prime Minister Pham Minh Chinh was told by 188bet vn Nghi Son complex's general director Kazuaka Yamato that 188bet vn plant has been operating at full capacity throughout March and has secured sufficient crude feedstock to sustain optimal operations through May.
To prioritize domestic energy needs, 188bet vn complex has scaled back petrochemical output and shifted focus toward fuel production, particularly jet fuel, he noted.
Despite stable operations, 188bet vn complex's management called on 188bet vn local government to support access to financing and ensure more flexible crude supply sourcing. They proposed tax relief on certain feedstocks to ease cost pressures. Such measures would help ensure stable supply to 188bet vn domestic market amid volatile global energy prices, they argued.
Welcoming 188bet vn proposals, Prime Minister Pham Minh Chinh praised efforts by stakeholders to secure crude supply. He said that Vietnam will continue working with international partners to ensure stable input flows for 188bet vn refinery.
188bet vn government is seeking to facilitate oil shipments through critical routes such as 188bet vn Strait of Hormuz, a key transit corridor affected by geopolitical tensions.
188bet vn cabinet leader also urged 188bet vn project stakeholders to diversify crude supply sources, describing it as both an urgent priority and a long-term solution.
As part of broader energy security efforts, Vietnam plans to fast-track construction of a strategic crude oil reserve near 188bet vn Nghi Son complex. Authorities are studying a storage facility with capacity of about one million tons on a 60-hectare site in Hai Binh ward, adjacent to 188bet vn complex.
188bet vn government chief has instructed local authorities to expedite land clearance and directed Petrovietnam to be ready to implement 188bet vn project under urgent conditions. In addition, 188bet vn government is considering additional gas storage infrastructure in 188bet vn area to further strengthen energy resilience.
By Hai Yen - Theinvestor.vn