Vietnamese refinery secures contractor credit package

Nghi Son Refinery & Petrochemical LLC (NSRP) has received a first credit package of about $600 million from contractors and sponsors for its 200,000-b/d refinery and petrochemical complex in Thanh Hoa Province, Vietnam (OGJ Online, June 7, 2013; Jan. 30, 2013).

Vietnam’s receipt of the credit package was announced at a recent provincial meeting with investor representatives of the refinery complex, according to a June 19 release from state-owned PetroVietnam.

In addition to construction activities in Thanh Hoa, engineering design and equipment fabrication for the complex currently are under way in Japan and South Korea, the company said.

While the project will continue to be quickly implemented, the project could encounter some setbacks in the future, such as a source of sand supplies for concrete-pouring activities, according to Kazutoshi Shimmura, general director of NSRP.

To keep the project on schedule, Shimmura expressed hope at the meeting that the province of Thanh Hoa would continue to expedite customs clearance of large volumes of imported machinery and supplies from abroad necessary to complete construction, according to the release.

The $9 billion Nghi Son refinery will process Kuwaiti crude oil and is due to begin commercial operation in 2017 (OGJ Online, Apr. 14, 2014; Dec. 18, 2013).

The Nghi Son complex is a joint venture of PetroVietnam (25.1%), Idemitsu Kosan Co. Ltd. (35.1%), Kuwait Petroleum Europe BV (35.1%), and Mitsui Chemicals Inc. (4.7%), who collectively have financed $5 billion for the project (OGJ Online, Jan. 30, 2013).

Related Articles

Gazprom Neft advances Moscow refinery revamp

07/23/2015 JSC Gazprom Neft has gained final approval from Russian government regulators to begin construction on its long-planned combined oil refinery unit ...

Contract let for Chinese grassroots petrochemical project

07/23/2015 Ningxia Baota Chemical Fiber Co. Ltd. (NBCF), a subsidiary of privatized Ningxia Baota Petrochemical Group Co. Ltd. (NBPG), has let a contract to H...

UAE easing gasoline, diesel price controls

07/22/2015

The United Arab Emirates is moving prices of gasoline and diesel toward deregulation effective Aug. 1.

Joint venture plans grassroots refinery for North Dakota

07/21/2015 Quantum Energy Inc., Tempe, Ariz., said it will form a joint venture with Native Son Holdings LLC (NSH), The Woodlands, Tex., to build North Dakota...

PDVSA plans late-July restart for Amuay refinery’s FCCU

07/20/2015 Repairs remain under way on the fluid catalytic cracking unit (FCCU) at Petroleos de Venezuela SA’s (PDVSA) 645,000-b/d Amuay refinery in northwest...

Unplanned maintenance under way at Venezuelan refinery

07/20/2015 Petroleos de Venezuela SA (PDVSA) said unplanned maintenance to a reformer at its at its 190,000-b/d Puerto La Cruz refinery in eastern Venezuela i...

Russia’s NefteGazIndustriya advances refinery modernization

07/20/2015 NefteGazIndustriya LLC, through a project developer, has let a contract to CB&I, Houston, to provide equipment for work related to the moderniz...

OGJ Newsletter

07/20/2015

International news for oil and gas professionals

Ending crude export ban would help rural US areas, House panel told

07/17/2015 Rural US communities generally have benefited from the nation's crude oil production renaissance, and potentially could be helped more if restricti...
White Papers

Solutions to Financial Distress Resulting from a Weak Oil and Gas Price Environment

The oil and gas industry is in the midst of a prolonged worldwide downturn in commodity prices. While ...
Sponsored by

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by
Available Webcasts


The Resilient Oilfield in the Internet of Things World

When Tue, Sep 22, 2015

As we hear about the hype surrounding the Internet of Things, the oil and gas industry is questioning what is different than what is already being done. What is new?  Using sensors and connecting devices is nothing new to our mode of business and in many ways the industry exemplifies many principles of an industrial internet of things. How does the Internet of Things impact the oil and gas industry?

Prolific instrumentation and automation digitized the industry and has changed the approach to business models calling for a systems led approach.  Resilient Systems have the ability to adapt to changing circumstances while maintaining their central purpose.  A resilient system, such as Maximo, allows an asset intensive organization to leverage connected devices by merging real-time asset information with other critical asset information and using that information to create a more agile organization.  

Join this webcast, sponsored by IBM, to learn how about Internet of Things capabilities and resilient systems are impacting the landscape of the oil and gas industry.

register:WEBCAST



On Demand

Taking the Headache out of Fuel License and Exemption Certificates: How to Ensure Compliance

Tue, Aug 25, 2015

This webinar, brought to you by Avalara, will detail the challenges of tax document management, as well as recommend solutions for fuel suppliers. You will learn:

-    Why it’s critical to track business partner licenses and exemption documents
-    The four key business challenges of ensuring tax compliance through document management
-    Best practice business processes to minimize exposure to tax errors

register:WEBCAST


Driving Growth and Efficiency with Deep Insights into Operational Data

Wed, Aug 19, 2015

Capitalizing on today’s momentum in Oil & Gas requires operational excellence based on a clear view of what your business data is telling you. Which is why nearly half* of oil and gas companies have deployed SAP HANA or have it on their roadmap.

Join SAP and Red Hat to learn more about using data to drive process improvements and identify new opportunities with the SAP HANA platform running on Red Hat Enterprise Linux. This webinar will also show how your choice of infrastructure impacts the performance of core business applications and your ability to achieve data-driven insights quickly and reliably.

*48% use SAP, http://go.sap.com/solution/industry/oil-gas.html

register:WEBCAST


OGJ's Midyear Forecast 2015

Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected