[REVISION HISTORY]

Vietnam Dung Quat refinery expansion

Updated 1 time since CLSTR started tracking revisions of this situation.

What changed

2026-08-08 02:19 UTC → 2026-08-11 00:25 UTC · added ~~removed~~

In early August ~~2026~~ 2026, the Dung Quat refinery in Quảng Ngãi province added a 65,000 m³ ~~crude‑oil~~ crude-oil storage tank, raising total capacity by ~~12.5 %~~ 12.5% to about 585,000 m³ and providing roughly 25 days of operating reserve. The upgrade was completed ahead of schedule and highlighted as a step toward greater energy security. A few days later, the refinery’s operator, PetroVietnam Refining and Petrochemical Joint Stock Company (BSR), issued a request for proposals to secure a US$600 million loan—about ~~40 %~~ 40% of the US$1.489 billion expansion project. The financing plan includes options backed by the World Bank’s Multilateral Investment Guarantee Agency, ~~export‑credit~~ export-credit agencies, or commercial lenders, with a target to select a lead bank in Q4 2026 and disburse funds by Q3 2027. The broader expansion will lift processing capacity from 148,000 to 171,000 barrels per day and upgrade product quality to Euro V standards.

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