Vietnam to rejuvenate oil reserve facilities
Published on: August 05, 2009 at 15:00
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According to Vietnam’s oil ministry, the plan is to ensure the country's energy security, stabilize domestic oil and petroleum market and facilitate production of local oil refinery plants.
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The project is divided into two phases, with an investment of $2.38 billion from now to 2015 and $7.19 billion from 2016 to 2025.
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The government is said to be considering a regulation which would make it mandatory for all oil companies to sell diesel with 20% blend of bio-diesel for retail market by the year 2017. But looking at the pace of development on the R&D and investment front, only a marginal part of the fixed percentage seems to be achievable. The blame goes to sluggish approach of the government to attract required investments for projects. 
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