Starting from Octorber 21, domestic merchants providing petrol to manufacturers at open economic and cross-border industrial zones will be subject to temporary import and re-export laws, according to the Ministry of Finance (MoF). As part of the new policies, fuel-trading activities between licensed traders and producers will be required to operate in accordance with General [...]
Prime Minister Nguyen Tan Dung has proposed that PetroVietnam and Vietsovpetro expand their exploration to increase oil and gas reserves, to ensure energy security, promote exports and increase State budget income. PM Dung made the proposal at the celebration of the 30 th anniversary of the agreement signing between Viet Nam and the former Soviet [...]
The Government will cover an estimated loss of VND1.22 trillion incurred by Vietnam National Petroleum Corporation, or Petrolimex, as compensation for its joining the country’s price stabilization program, the company’s top executive said. Bui Ngoc Bao, chairman and CEO of the company, told investors in a road show on its initial public offering (IPO) in [...]
The domestic market price of petrol and gas is set to operate under market mechanisms from the fourth quarter of this year, according to Bui Ngoc Bao, chairman and CEO of the Viet Nam National Petroleum Corporation (Petrolimex). As part of Resolution 11, the Prime Minister had confirmed that the price of coal, petrol and [...]
Reporter spoke to Petrolimex deputy general director Vuong Thai Dung about recent increases in import duties on fuel products that were aimed at helping to stabilise the market. What is your assessment of the situation surrounding oil and petrol? Does current State management of oil and petrol prices meet the expectations of enterprises? Petrol and [...]
Fuel prices in Vietnam are higher than in neighboring nations and oil companies are making big profits, the Ministry of Industry and Trade admitted at a meeting in Hanoi yesterday. Global oil prices have fallen to below US$100 a barrel and there is public demand in Vietnam to cut retail prices but the a Ministry [...]
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