Vietnam was facing a national security due to not being able to refine their own crude oil, but all that has changed. Vietnam built their first oil refinery in Dung Quat, Vietnam and is pumping out about 6.5 million tons of refined oil and planning to increase to 10 million tons of refined oil by 2013 [Herald Tribune]. For years Vietnam has depend on imported oil because they could not refine their own oil. This dependence was becoming a threat to the country and the communist leaders realized that an oil refinery was desperately needed. The refinery has created many job openings, but not for unskilled people around the area. Being one of "the most modern refinery in the world" (AFP) it will be hard for local people to find work at the refinery. Now that Vietnam has their first oil refinery, the economy will change and only a matter of time for other forms of energy. Then again everything will be regulated by the communist leaders of Vietnam and there is no telling when other forms of energy technology will spring up since it took them this long to have their first oil refinery.
Reference:
1) http://news.yahoo.com/s/afp/20090223/ts_afp/vietnameconomyenergyoil_20090223002725
2) http://www.iht.com/articles/2009/02/22/business/biodiesel.3-435258.php
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Doing some quick math, 10 million tons a year is about 73 mbbl/yr, which is 200,000 bbls/day of refining capacity. Vietnam uses about 240,000 bbls/d (1) and produce 340,000 bbls/d. The addition of this refinery means Vietnam no longer has to send all their domestic oil away to be refined and that the fuel they refine has the potential to meet 80% of what they consume. I wonder what the government has planned, and how much refined oil they plan on exporting?
1)http://www.indexmundi.com/energy.aspx?country=vn&product=oil&graph=consumption
2) http://www.indexmundi.com/energy.aspx?country=vn&product=oil&graph=production
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