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Who financed Vietnam's Oil Refinery?

This was financed in part by the Bank for Foreign Trade of Vietnam (US$250 million; Hydrocarbons Technology, 2014). The refinery is owned by Vietnam¡¯s state-owned oil company, Vietnam Oil and Gas Group (PetroVietnam, 2010), and currently has an internal rate of return (IRR) of 8% (PetroVietnam, 2010).

What kind of fuel does Vietnam refinery produce?

The refinery processes mostly sweet crude from the Bach Ho oil field ofshore Vietnam in the South China Sea, and from this produces diesel at around 150 ppm sulfur. The fuel from this refinery would actually meet Euro 3 standards except for its olefin levels.

Why did Vietnam impose a tariff on crude oil exports?

To encourage growth in the country¡¯s refining sector, Vietnam established a significant tarif on all exports of crude oil (The Canadian Trade Commissioner Service, 2011; EY, 2013).

How much oil does Vung Ro refinery produce a year?

If completed as planned, the Vung Ro refinery will have a capacity of about 8 million tons per year (Oil Trends, 2013), and will process sour Arabian light crude as well as an unidentified ¡°Vung Ro Petroleum blend,¡± which is likely sweet crude from Vietnam (VRP, 2013).