Petrolimex estimates 2tr dong loss in Jan-Sept.

By the end of August, Vietnam National Petroleum Joint Stock Corp. (Petrolimex) estimated its loss at 1.8 trillion dong, Bui Ngoc Bao, Petrolimex’s CEO said at the seminar on petrol price management under market mechanism in Hanoi on September 20.
According to Bao, in September, his firm estimated a loss of 200 billion dong, bringing the company’s total loss in January – September to some two trillion dong.

Previously, Nguoi Lao Dong newspaper on September 18 quoted Nguyen The Dung, deputy general director of Dong Thap Petroleum Trading Import – Export Co. (Petimex) as saying that Petrolimex was suffering a loss of over 1,000 dong per litre of gasoline and about 200 dong per litre of oil.

Also at the seminar, Ministry of Industry and Trade (MoIT) announced the total value of the petrol stabilisation fund from March 13, 2009 to September 30, 2011 (estimated) at 8.454 trillion dong, of which, the spending of the fund till 10:00 am on February 24, 2011 was worth 7.602 trillion dong. Thus, the fund’s balance till September 30, 2011 will be 852 billion dong.

The ministry does not intend to use this fund from now till September 30, 2011.

Tags: Petrolimex

Posted by VBN on Sep 22 2011. Filed under Oil-Gas & Petroleum. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry