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Refinery to import 8-10 M barrels of WTI, Bonny Light crude oil in 2020

November 28/2019

MOSCOW (MRC) -- Vietnams Binh Son Refining and Petrochemical will import 8-10 million barrels of West Texas Intermediate (WTI) and Bonny Light crude oil in 2020 for its Dung Quat refinery, reported Reuters with reference to the producer's parent company PetroVietnam.

The company will have imported 4 million barrels of the crude oil by the end of this year, PetroVietnam said.

As MRC informed previously, in the first half of November 2019, the Vietnamese Finance Ministry received several petitions from local companies to adjust the import duties imposed on propane and polypropylene (PP). The Ministry thereafter proposed its plans for the import duties on the mentioned products. For propane, with HS code 2711.12.00, the petition called for a reduction from the current 2% to 0%. However, the Ministry informed that the existing local supply can fulfill up to 45% of the domestic demand and that the duties have been adjusted from 5% to 2% on 1 January 2018, therefore, no changes would be made for the time being.

According to MRC's ScanPlast report, the estimated PP consumption in the Russian market was 976,790 tonnes in January-September 2019, up by 4% year on year. Shipments of PP block copolymer and homopolymer PP increased.
Author:Margaret Volkova
Tags:PP, crude and gaz condensate, PP block copolymer, homopolymer PP, petrochemistry, PetroVietnam, Vietnam, Russia.
Category:General News
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