Vietnam's first refinery inks propylene supply pact with Japanese trading firm

A propylene purchase contract agreement has been inked between Japan's trading company, Marubeni Corp and Petrovietnam's oil refinery, Dung Quat. Under the terms of the contract, Marubeni Corp would purchase all propylene from the state owned Dung Quat oil refinery between 2009 and 2010 and its prices will be decided according to free-on-board (FOB) basis. The volume of purchase is slated to be around 75,000 to 150,000 tpa once Dung Quat, Vietnam's first refinery becomes fully operational from February next year. The 140,000 bpd Dung Quat refinery is slated to fuel 40% of the oil product demand in the country.
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