Vietnam is seeking about $1.2 billion in overseas loans for its only oil refinery before a share sale in 2017, to increase output and meet demand in one of Southeast Asia’s fastest growing economies. “The expansion will help our refinery operate more efficiently since it will boost the overall output by 30 percent and help cut production costs,” Nguyen Hoai Giang, chairman of Binh Son Refining & PetroChemical Co., the refinery’s operator, said in a telephone interview Thursday. The company is in the process of selecting an adviser for the loans, he said. When completed in 2021, the expanded Dung Quat Refinery will be able to meet half of Vietnam’s fuel needs, rising from about one-third now with its current capacity of 148,000 barrels a day, Giang said. Vietnam’s demand for petroleum products is increasing and imports of such goods rose 18.7 percent in 2015, according to the General […]