The trading arm of Vietnam’s state oil firm Petrovietnam will build a $250 million oil depot by 2010 to store products from the country’s first refinery Dung Quat, a state-run newspaper reported on Monday.
PV Oil, which operates about 2,000 filling stations nationwide, will also distribute products from the 140,000-bpd refinery due to start operating next month, the Saigon Giai Phong newspaper said.
The oil depot, to be located in Long Son in the southern oil hub province of Ba Ria Vung Tau, will open in 2010 with an annual capacity of 1.2 million tonnes of oil products, the daily quoted PV Oil Chief Executive Nguyen Quoc Khanh as saying.
Khanh said the company would use existing depots in other parts of the country to store products from Dung Quat from next month.
Source: www.vnbusinessnews.com
