Recent market research shows that the Vietnamese market will consume about 4,5 million tpa of resin, 4 million tpa of urea fertilizer and 700,000 tpa of polyester fibres by 2010. However, cautious forecasting by Vietnamese economists suggests market demand for petroleum will reach only 19 million tons of petroleum by 2010 and 31million tons by 2020.
Vietnam - likely to fulfill its objective of becoming an "industrialised nation with a population of 100 million" within the next 15 years will have a predicted demand of 70 million tons of petroleum on the domestic front. Should the prediction made for Vietnam be accurate, the country will need three oil refineries. Each of these will require to have a capacity of 6 million tpa. A further rise in demand will result in the need of more refineries.
Petroleum consumption in Vietnam is about 0.95 barrel per person each year, vis a vis the average global petroleum demand of 5 barrels per head each year (one ton of petroleum = 7.2 barrels). Petroleum is required for a multitude of uses in the modern society for production of resins, plastics, synthetic fibres, detergents, and pharmaceutical products.
26-May-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}