PETROVIETNAM TO CONTINUE ETHANOL EXPORTS ON LACK OF DOMESTIC DEMAND

摘要

PetroVietnam has announced that it will increase exports of ethanol fuels due to a lack of market demand at home. Under a government plan for developing the bio-fuel market through 2015 the group had invested $270 mln in three ethanol plants in Binh Phuoc, Phu Tho and Quang Ngai provinces with a total productive capacity of 300 mln litres a year. However, despite being cheaper by about VND500 ($1=VND20,592) per litre than conventional gasoline, consumers are reluctant to switch to the new fuel.