Last update: 17:16 | 17/07/2017
The Ministry of Industry and Trade (MOIT) has said that the supply of E5 bio-fuel will be able to meet the entire market demand when RON 92 petrol is completely replaced by E5 bio-fuel from January 1, 2018.
The total consumption volume of E5 is estimated to reach over 5.3 million m3 in 2018
At a quarterly meeting on July 14, the MOIT said that it worked with 26 petrol wholesalers on July 6 to remove difficulties in trading E5 bio-fuel in order to accelerate the replacement of RON 92.
According to the MOIT, the total volume of petrol consumed in 2016 was estimated at 7.4 million m3 including 590,000 m3 of E5 bio-fuel, accounting for 8% of the total petrol consumption.
When RON 92 petrol is completely replaced by E5 bio-fuel from 2018, the total consumption volume of E5 has been estimated to reach over 5.3 million m3.
Meanwhile, the supply of bio-fuel ethanol to make blended E5 mainly comes from the two plants of Tung Lam Company with a total capacity of 200,000 m3 per year which is capable of blending 3.9 million m3 of E5 bio-fuel per year.
Besides the two plants of Tung Lam, there are two other plants with a total capacity of 100,000 m3 per year in Dung Quat and Binh Phuoc which are being halted due to lack of a consumption market. The two plants are scheduled to resume operations by the end of 2017.
In addition, the MOIT said that there are seven out of 26 petrol wholesalers that are equipped with E5 blending systems with a total capacity of approximately 6.2-6.7 million m3 per year which will be able to completely meet the demand for E5 as of 2018.