PV Oil to roll out bio-fuel E5 ahead of deadline
PV Oil to roll out bio-fuel E5 ahead of deadline
PetroVietnam Oil Corporation (PV Oil) will start to switch from RON A92 petrol to bio-fuel E5 nationwide on December 15. This is 15 days sooner than the official date approved by the government.
According to newswire Infonet, the selling price of E5 will be VND1,045 per litre lower than that of RON 95.
The purpose of speeding up the switch is to remedy arising errors during the official distribution deadline.
PV Oil invested VND100 billion ($4.4 million) in installing 11 blending stations and expanding its distribution system.
Previously, PV Oil announced that it completed the closed distribution system including processing raw materials for bio-fuel blending, blending E5 bio-fuel, and transporting it from blending stations to transit warehouses and then to retail stations and distributors nationwide.
PV Oil upgraded its storage tank systems and simultaneously took bio-fuel blending stations into operation nationwide.
Besides, the company has built plans for ethanol E100 processing to ensure the raw material for E5 bio-fuel blending (E5 is a mix of 95 per cent A92 petrol and 5 per cent ethanol E100). PV Oil will source all E100 ethanol domestically.
PV Oil has also accelerated the installation of switch fuel pumping facilities at retail stations and is ready to provide technical support to its agencies and distributors. It plans to complete upgrading and switching processes by the end of the year.
PV Oil was considered a pioneer when it started to pilot the E5 programme and officially started retail distribution from August 1, 2010. Since December 1, 2014 E5 bio-fuel was taken into commercial use through PV Oil’s distribution systems in seven cities and provinces, including Hanoi, Ho Chi Minh City, Haiphong, Danang, Can Tho, Quang Ngai, and Ba Ria-Vung Tau.
Along with PV Oil, Vietnam currently has four other petroleum trading firms with E5 bio-fuel blending stations, including Petrolimex, Saigon Petro Co., Ltd., Military Petroleum Corporation (MIPECORP), and Nam Song Hau Trading and Investment Petroleum JSC.
