Nghi Son Refinery and Petrochemicals LLC (NSPR) in the central province of Thanh Hoa. (Photo: VNA)

After completing major maintenance ahead of schedule, the NSPR resumed its operation and sales of refined fuels on October 12. Currently, it is maintaining production activity at its designed capacity, ensuring stable supply for domestic market.

To assure a smooth operation, the NSPR has worked with suppliers about plans to import crude oil for the last quarter of 2023. The plan to import crude oil for next year’ first quarter will be discussed in mid-November.

The company said that when prices of crude oil in the world increase, it will result in hike in prices of other products and services. Therefore, it will continue to optimise all resources to ensure efficiency in production and business activities as well as to avoid negative impacts from fluctuations in crude oil and product prices.

The NSRP is a joint venture company established in April 2008, with Vietnam Oil and Gas Group (PVN), Kuwait Petroleum Europe. B.V. (KPE), Idemitsu Kosan Co.,Ltd. (IKC) and Mitsui Chemicals Inc. (MCI) as its sponsors.

The construction of the NSRP – the second refinery in Vietnam - began in October 2013 and finished in April 2017. Kuwait is the supplier of all crude oil for the project, whose products include liquefied petroleum gas, gasoline A92 and A95, diesel, kerosene, jet fuel, paraxylene, benzene, polypropylene, and sulphur.

With a total investment capital of over 9 billion USD and a processing capacity of 200,000 barrels of crude oil per day (equivalent to 10 million tonnes per year), the refinery is one of Vietnam’s key national projects and one of the most sophisticated refineries operating in Asia today.