Oil refinery exceeds annual targets
Oil refinery exceeds annual targets
Binh Son Oil Refinery Co Ltd reported at a conference on Wednesday that it produced 5.81 million tonnes of oil this year, earning VND127.8 trillion (around US$6 billion) or 128 per cent of its yearly target.
In 2014, the company imported 6.4 million tonnes of crude oil, completing 119 per cent of its yearly plan.
The company contributed VND23 trillion ($1.1 billion) to the State budget, surpassing its plan by VND11 trillion ($524 million). Located in the central province of Quang Ngai, the Binh Son Co's Dung Quat Oil Refinery has imported 33.6 million tonnes of crude oil and achieved output of 30.6 million tonnes since it opened. The firm aims to produce more than 5.86 million tonnes of various products and earn VND120.6 trillion ($5.7 billion) in 2015.
At the conference, the company was also granted an investment certificate to upgrade and expand the refinery. The $1.9 billion expansion will increase annual capacity by 2 million tonnes to 8.5 million tonnes.
The company began providing bio-fuel E5-RON 92 in July in seven cities and provinces, in accordance with the bio-fuel development roadmap approved by the Government.
