Ca Mau Province Proposes New Oil Refining and Petrochemical Complex

The People’s Committee of Ca Mau has proposed the addition of a new oil refining and petrochemical complex to Vietnam's national energy development plan, targeting implementation between 2026 and 2030. This facility will be located in the Tan Thuan Industrial Park and is planned to be developed in two phases, with the first phase achieving a capacity of approximately 65,000 barrels per day, or about 3 million tons annually.

The second phase aims to increase the total capacity to around 155,000 barrels per day, translating to seven million tons per year. The proposed feedstock for the complex is expected to be a mix of Middle Eastern and South American crude oil, or other equivalent types that align with the plant's technological requirements.

Currently, Vietnam operates two major oil refineries, which together meet about 65% of domestic petroleum demand. The new complex is intended to bolster the country's refining and petrochemical capabilities, while also enhancing infrastructure for the storage, processing, and distribution of petroleum products. This initiative is part of a broader strategy to establish an energy and logistics hub in southern Vietnam, leveraging the province's extensive maritime resources.

Source: The Investor. Read the full article.