Thursday , June 20 2024

Refinery to shut down for maintenance next month

Giant oil refinery Nghi Son will shut down for 55 days from August 25 for its first major maintenance after nearly five years of continuous operations.

Nghi Son Refinery and Petrochemical Llc in the central province of Thanh Hoa said in a statement Tuesday that it is holding discussions with authorities to ensure the shutdown would not affect fuel supply.

Nghi Son and the country’s other refinery, Dung Quat, accounted for 53% of domestic supply in the first five months, with imports making up the rest.

The Ministry of Industry and Trade had earlier ordered Dung Quat to operate at maximum capacity and importers to increase purchases to ensure there is adequate supply.

The US$9-billion Nghi Son plant has the capacity to refine 200,000 barrels of crude oil a day, equivalent to 10 million tons a year, almost double that of Dung Quat.

Japan’s Idemitsu Kosan Co and Kuwait Petroleum each hold 35.1% stakes in it, while state oil firm PetroVietnam owns 25.1% and Japan’s Mitsui Chemicals, 4.7%.

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