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The Vietnam Oil and Gas Group (PVN) is negotiating with BP of Britain and Shell of the US to import crude oil for the Dung Quat refinery, which is scheduled to start operation in February next year. 

PVN said it plans to import oil to meet 30 percent of Dung Quat’s crude demand estimated at 3.5 million tonnes at its initial phase and around 6.5 million tonnes in 2010. 

It was intended the nation’s first oil refinery would use crude oil from the Bach Ho field but as oil from the field is fetching the highest price in the market, the import of crude to replace part of this supply will be more enconomically beneficial. 

The Oil Corporation (PV Oil) will undertake the sales of all product of the Dung Quat refinery during the refinery’s test running period. 

PVN said that it is considering several possibilities regarding the Dung Quat refinery, which either see it operating as an independent business or being sold to a foreign partner.