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NSRP, the Nghi Son Refinery & Petrochemical Company, said it has updated its operations to ensure a continuous crude supply amid volatility in the global energy market. In mid-March, the company received its latest crude cargo from Kuwait.
Geopolitical developments affecting shipping around the Hormuz Strait influenced subsequent crude shipments. In response to supply constraints, NSRP implemented measures to secure crude and arrange substitute supplies to maintain stable operations going forward.
NSRP reported that it has maintained operations at maximum capacity throughout March. The company also said it has secured enough crude supply to sustain continuous operation through May at an “optimal level,” with a focus on maximizing production of gasoline and other refined products to meet domestic demand. NSRP said the effort is being carried out in close coordination with the Ministry of Industry and Trade.
At the same time, NSRP continues to seek additional crude and other input materials to increase capacity when conditions permit. The company noted that crude input supply accounts for about 40% of output.
NSRP was established in 2008 as a joint venture among Kuwait Petroleum Europe (KPE), Idemitsu Kosan (IKC), Petrovietnam, and Mitsui Chemicals (MCI) of Japan, with total investment of more than $9 billion.
The refinery is located in the Nghi Son Economic Zone in Thanh Hoa Province. NSRP operates one of Vietnam’s modern refineries, with a designed capacity of 200,000 barrels of crude oil per day, equivalent to 10 million tons per year.
In addition to NSRP, Vietnam also has a larger refinery complex at Dung Quat (Quang Ngai), managed by BSR. Together, the two refineries play a key role in ensuring domestic gasoline supply, meeting about 60-70% of market demand through distribution networks of leading companies such as Petrolimex and PV OIL.
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