Petroleum processing contributes to foods security

In recent years, Vietnam's fertilizer production industry has developed strongly. From importing nearly 60%, Vietnam has been proactive in supplying urea, meeting agricultural production needs, developing new fertilizers such as DAP and Kali. Vietnamese enterprises have made intensive investments, renovated technologies and equipment, improved nutritional content, quality of phosphate and NPK products.

Domestic fertilizer plants can now meet the demand for urea, phosphate, NPK fertilizer and export some products. Domestic fertilizer consumption demand is about 11 million tons, of which inorganic fertilizer accounts for about 90%, organic fertilizer and some other types are only about 10%. According to the years, demand has fluctuated significantly at 1.4 million tons of phosphate, 2.3 million tons of urea, nearly 4 million tons of NPK. Other types of fertilizers such as DAP, Kali, SA fluctuate at 850-950 tons.

Fertilizer at Ca Mau Fertilizer Plant.

PetroVietnam is currently the founding shareholder and owns two largest fertilizer plants including Phu My Fertilizer Plant and and Ca Mau Fertilizer Plant - Ca Mau Petroleum Fertilizer Joint Stock Company. Over the years, both plants have been operating stably with the total capacity about 1.6 million tons of urea per year, ensuring to supply more than 70% of the country's fertilizer demand.

Every year, oil and gas processing sector contributes about 20-25% of the total revenue of the group, plays an important role in ensuring energy security and national food security, contributing to stabilizing the domestic market and promote the national industrialization and modernization.

In the first 5 months of 2019, PetroVietnam has basically completed the planned targets and tasks. In which, the total revenue of in 5 months is estimated at 277.8 trillion dong, the State budget is estimated at 41 trillion dong.

Tung Phong