Last Updated :
05 August 2009 at 15:00 IST
Vietnam to rejuvenate oil reserve facilities
HANOI (Commodity Online) : Vietnam on Wednesday adopted a policy to develop country’s oil reserve facilities up to 2025 and allocated $9.57 billion for the purpose.
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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