UPDATE: Vietnam’s Nghi Son to remain operational after funding agreement

According to media reports, Nghi Son Refinery and Petrochemical (NSRP) will no longer require a lengthy shutdown this February after major shareholders agreed to provide short-term funding to the company to settle the debts. 

Vietnam’s largest refinery previously lowered operating rates to 80% in January due to financial difficulties. The company was initially facing the threat of a lengthy shutdown due to the lack of crude supply. 

In conjunction with the latest development, NSRP’s downstream PP plant would remain operational. The 370,000 tons/year line was initially scheduled to shut down for two months in February in line with the feedstock disruption from the refinery stoppage.