Vietnam's largest refinery Nghi Son says major maintenance completed
(Reuters) - Vietnam's largest refinery Nghi Son completed major maintenance at the facility on Wednesday, one week ahead of schedule, the company said.
The 200,000-barrel-per-day Nghi Son Refinery and Petrochemical will resume sales of refined fuels from Thursday, the company said in a statement.
Nghi Son is 35.1% owned by Japan's Idemitsu Kosan Co , 35.1% by Kuwait Petroleum, 25.1% by Vietnam's state oil firm PetroVietnam and 4.7% by Mitsui Chemicals Inc.
The company said all of the refinery's units had been restarted, adding that it will increase operating capacity of the entire plant in the coming days.
In August, an official document signed by Kuwait's oil minister and reviewed by Reuters showed the refinery could incur a $1 billion loss this year, due to price volatility, increasing interest payments for loans and the maintenance shutdown.
Vietnam's Ministry of Industry and Trade said then that it had told PetroVietnam to propose measures to address the difficulties faced by the refinery, "including financial restructure to ensure its efficient operations."
Wednesday's statement said investors in the refinery are expected to reach an agreement by the end of November to increase the financial capability of the refinery "to ensure its continuous and stable operations in the future".
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