Experts have been baffled by losses of Binh Son Refining and Petrochemical Co Ltd's (BSR), which operates the Dung Quat Oil Refinery, losses as the project received cost and subsidy advantages, said Masami Kojima from the World Bank. Experts have been baffled by losses of Binh Son Refining and Petrochemical Co Ltd's (BSR), which operates the Dung Quat Oil Refinery, losses as the project received cost and subsidy advantages, said Masami Kojima from the World Bank. She added that Dung Quat Oil Refinery is the only oil refinery plant in Viet Nam using local crude oil. If the refinery did not retain the preferential value, its total accumulated losses would be more than VND27.6 trillion (US$1 billion) in 2010-14. The World Bank report aimed to support the Vietnamese Government to have better knowledge of energy subsidies as well as the affects of energy subsidy reduction.

Source: VietNamNet News September 15, 2016 03:00 UTC