Prista Oil to co-operate on oil recycling plant
17:06 | 14/04/2014
Bulgaria’s Prista Oil has signed an MoU with PetroVietnam to work on environmentally friendly oil recycling
The two sides signed a memorandum of understanding (MoU) at a symposium on exchanging experiences in managing and treating used oil that gathered experts from both nations and on the occasion of a visit paid by Bulgarian Prime Minister Plamen Vasilve Oresharski to Vietnam.
The MoU specifically mentions co-operation in lube oil, a management and gathering system, and the technology to recycle the former into high quality products that are environmentally friendly.
According to Oresharski, environmental protection is a challenging field that governments have no choice but to address.
“Vietnam is a traditional and significant Asian partner to Bulgaria and the co-operation between PetroVietnam and Prista Oil will further strengthen relations between our two countries,” Oresharski said, adding that the project should be advanced due to its environmental benefits.
PetroVietnam’s general director Do Van Hau said that nearly every country had strict regulations on the treatment and recycling of used oil.
“In the US, some 1.4 million cubic metres of oil are collected and recycled every year to fuel over 50 million vehicles,” Hau cited.
He pointed to the fact that Vietnam only had regulations governing the collection and recycling of used products in general and that recycling of oil was generally done at very small levels using outdated methods causing safety, quality and environmental concerns.
“Improving this will not only work towards a better environment but also improving Vietnam’s image and reputation for high-technologies that help improve environmental production,” Hau said.
Nguyen Xuan Son, general director of Petro Vietnam Oil Corporation, said Vietnam’s oil market was seen to have great potential, but many difficulties remain due to the lack of a legal framework.
“The country also lacks experience in the management, collection and recycling of used oil,” he added.
Prista Oil is a leading oil and gas group in Bulgaria which owns and operates numerous lube treatment factories in Bulgaria, Ukraine and Uzbekistan under the standards set by EU Directive 75/439/EEC/87/101/EEC.
In Vietnam, used lube is considered hazardous waste and regulations require it to be collected and treated by licenced, professional firms.
Source: VIR