Vietnam Needs $11.5 bln to Expand National Fuel Storage Capacity by 2030
04.03.2023 By TankTerminals.com - NEWS

April 3, 2023 [Reuters] – Vietnam would need investment of up to 270 trillion dong ($11.51 billion) to expand its national fuel storage system by 2030, state media reported on Friday, citing a draft plan prepared by the Ministry of Industry and Trade.

 

The investment would raise the country’s crude oil and refined fuel storage capacity to 75-80 days of net imports, Dau Tu newspaper reported.

The country’s current fuel storage capacity stands at 65 days of net imports, state radio broadcaster VOV cited the Minister of Industry and Trade, Nguyen Hong Dien, as saying on Thursday.

The Southeast Asian country, a regional manufacturing hub, has at times faced a fuel supply crunch due to tight global supplies or malfunctions of its local oil refineries.

“The plan, if approved by policymakers, would lay the direction for companies to build, expand and modernise the existing system of fuel storages,” the ministry said in a separate statement on Friday, without specifying a time frame.

Most of the investment needed for the plan would come from businesses, Dau Tu reported.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

ConocoPhillips Working to Resume APLNG Terminal Ops
12.05.2023 - NEWS
December 5, 2023 [LNG Prime]- A unit of ConocoPhillips is working to resume production at the Aus... Read More
Peru LNG Terminal Sent Four Cargoes in November
12.05.2023 - NEWS
December 5, 2023 [LNG Prime]- Peru LNG’s liquefaction plant at Pampa Melchorita has shipped fou... Read More
India’s Top Clean Energy Firm to Invest $22 Billion to Boost Capacity Fivefold
12.05.2023 - NEWS
December 5, 2023 [Oil Price]- Adani Green Energy, the biggest renewable power producer in India, ... Read More
Oil Prices Little Changed Amid OPEC+ Cut Doubts, Mid-East Tension
12.05.2023 - NEWS
December 5, 2023 [Reuters]- Oil prices were little changed on Tuesday amid uncertainty over volun... Read More