State to encourage use of bio-petrol
The relevant state offices must ensure supply of E5 grade bio-fuel for the domestic market to sell bio-petrol nationwide from November end, the Deputy Minister of Industry and Trade said.
E5 petrol will start to sell nationwide from November 31 (Source: VNA)Deputy Minister of Industry and Trade Do Thang Hai said the state offices should have support policies to encourage petrol dealers to sell E5 petrol, a kind of petrol with 5 percent ethanol and 95 percent petrol, as well as promote propaganda among the public on the usefulness of bio-fuel.
The Ministry of Industry and Trade's Science and Technology Department has said Vietnam has seven factories producing ethanol, of which four have ethanol meeting quality standards to process E5 petrol.
The four factories have a total capacity at 318,000 tonnes of ethanol to process 4.78 million tonnes of E5 petrol. Meanwhile, three other factories need more investment to produce ethanol that reaches quality standards to process bio-fuel.
So far this year, E5 petrol has been sold at seven cities and provinces, including Hanoi, Da Nang, Can Tho, and HCM City, in addition to Quang Nam, Quang Ngai and Ba Ria Vung Tau. The products will start to sell nationwide from November 31.
The nation has three E5 petrol processors, including the Vietnam National Oil and Gas Group (PetroVietnam), the Vietnam National Petroleum Group (Petrolimex) and PetroVietnam Oil Corporation (PV Oil).
Petrolimex plans to expand the retail system of E5 fuel at all its petrol stations nationwide. By the end of this year, the group will ask its companies to report their specific schedule on selling E5 at the group's distribution system.
Meanwhile, PetroVietnam has 359 E5 petrol retail stations in 52 cities and provinces nationwide. The group has processed a total output of 80,000 cubic metres of E5 petrol per year, which is enough supply for its distribution system.
By the end of this year, PetroVietnam's petrol stations in eight cities and provinces will sell only E5 petrol. It will sell bio fuel products at around 90 percent of its petrol stations in the remaining cities and provinces by the end of 2016.-VNA
You should also see
PM raises proposals for ASEAN to become global digital transformation model
Prime Minister Pham Minh Chinh on April 23 proposed breakthrough orientations to make ASEAN a model in digital transformation globally, while co-chairing a business roundtable with his Lao counterpart Sonexay Siphandone in Hanoi.
See more
Business
3,400 taels of SJC-branded gold bars successfully auctioned
The State Bank of Vietnam auctioned 16,800 taels of SJC-branded gold bars in Hanoi on April 23. This is the first auction of this kind in 11 years.
Business
HCM City seeks to draw remittances in infrastructure
A seminar aimed at channeling overseas remittances into infrastructure took place in Ho Chi Minh City on April 23, given that remittances to the city reached 9.46 billion USD in 2023, nearly three times higher than foreign direct investment (FDI), according to official statistics.
Sci-Tech
FPT, NVIDIA ink MoU to build 200 million USD AI factory
Vietnam’s tech giant FPT plans to build a 200 million USD artificial intelligence (AI) factory using Nvidia's graphics chips and software, as announced on April 23 in a comprehensive strategic partnership with NVIDIA.
Business
Lao Cai province calls for more Japanese investments
The advantages and potential of Vietnam’s northern border province of Lao Cai were introduced to Japanese firms at an investment and tourism promotion conference in Tokyo on April 23.
Business
Vietnam’s economy shows gradual recovery: WB’s report
Vietnam's economy is showing mixed signs of recovery in early 2024, with growth forecast to reach 5.5% in 2024 and gradually rise to 6.0% by 2025, according to the latest World Bank Taking Stock bi-annual economic update released on April 23.
