Vietnam imports nearly 0.5 million tons of oil each year, while the same volume of waste oil is discharged to the environment without treatment. After use, the waste oil is discharged to the environment.The waste oil could be a golden mine for Vietnam, according to Van. The first one is drilling for crude oil from the earth and refining to get base oil. VN Oil can satisfy two requirements – protecting the environment by treating waste lubricant and applying high technology to make API II base oil, thus helping save foreign currency for imports. Meanwhile, the base oil price offered by VN Oil is at least 5-7 percent lower than the import price.

Source: VietNamNet News February 03, 2017 01:18 UTC