What does the Ministry of Industry and Trade say?

Regarding the shutdown of the Nghi Son Refinery (NSRP), according to information from the Ministry of Industry and Trade , the Domestic Market Department has submitted a report on the market security situation during the 55-day shutdown period, starting from August 25th.

According to a report by the Domestic Market Department, in the first six months of the year, domestic supply was at times affected by technical incidents at the RFCC unit of the Nghi Son Refinery (late 2022, early 2023), causing a drop in gasoline and diesel production in the first 10 days of January, and the risk of gasoline and diesel supply being affected due to the Nghi Son Refinery's financial problems in March.

According to assessments, the management and direction of petroleum products have been implemented actively and promptly to ensure the supply of petroleum products to the domestic market in all situations. Specifically in April and June, the Ministry of Industry and Trade held two meetings with key petroleum production and trading enterprises to discuss solutions to ensure the supply of petroleum products to the domestic market in the coming period.

To date, the supply of petroleum products from the two refineries (Binh Son and Nghi Son) has been quite stable in terms of output over the past six months. Leading enterprises and the petroleum distribution system have gained considerable experience with market developments in 2022, and ministries, sectors, and localities have implemented many innovations in leadership, direction, management, and problem-solving for businesses.

The Nghi Son Refinery and Petrochemical Plant (NSRP) will cease operations for comprehensive maintenance for 55 days, starting from August 25th.

The Ministry of Industry and Trade also stated that, at a recent meeting with key businesses, Minister Nguyen Hong Dien specifically reminded businesses and related units to ensure domestic supply when the Nghi Son Refinery and Petrochemical Plant will experience disruptions from mid-August to the end of September and early October due to scheduled maintenance shutdowns.

The Minister of Industry and Trade has requested the Vietnam Oil and Gas Group (PVN) and the Binh Son Refinery and Petrochemical Plant to proactively develop plans in terms of technology, human resources, materials, etc., to operate at full or even above capacity in all situations, ensuring sufficient supply to the market as committed.

The Ministry of Industry and Trade leaders have instructed key enterprises to base their decisions on the initial allocation of production at the beginning of the year and the additional allocation, comparing it with the results achieved in the first six months of the year, in order to proactively import petroleum products in July, ready to meet market demand and prevent any disruption to the supply chain under any circumstances.

“Leading enterprises must strictly comply with regulations on mandatory commercial reserves; distribute profits within the system; and establish and manage the Fuel Price Stabilization Fund in accordance with regulations. At the same time, they must urgently and seriously address the shortcomings and weaknesses identified through specialized inspections and audits to improve themselves and ensure they meet the operating conditions as prescribed,” Minister Nguyen Hong Dien requested.

Mr. So Hasegawa, General Director of NSRP, stated that during the maintenance period, the Nghi Son Refinery's workshops will completely cease all production activities. To minimize the impact of this production suspension, NSRP has proactively implemented optimal plans to expedite the maintenance process, reducing maintenance time while ensuring the quality of the maintenance work.

NSRP is coordinating and working closely with relevant authorities to ensure that the plant's overall maintenance does not affect the domestic petroleum market or consumers.

(Source: Tien Phong Newspaper)

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