This conclusion was reached by scientists from the Vietnam Petroleum Institute and the Ho Chi Minh City University of Technology at a recent conference for the oil and gas sector.
Scientists say the bio-oil, which is created through a process called pyrolysis, could be an alternative fuel or used to produce petrol and diesel in the near future.
The thermolysis of other agricultural by-products, such as bagasse, corncobs, and rice husks, could also be used in a similar way, they added.
This method creates bio-oil that replaces traditional fuels and helps reduce pollution caused by burning straw and bagasse, which ultimately protects the environment.
Scientists estimate that agriculture in Vietnam produces around 62 million tonnes of straw, bagasse and corncobs each year.
