India and Vietnam signed an agreement to expand joint oil and gas exploration in Vietnam’s East Sea. ONGC Videsh Ltd., a unit of India’s biggest explorer Oil & Natural Gas Corp., and Vietnam Oil & Gas Group, known as PetroVietnam, signed a three-year pact that aims to increase the countries’ investment in exploration and production. [...]
In August, RON 92 gasoline price declined 2.34% from July. In September, the price went down, according to the petroleum market news in September of Vietnam National Petroleum Corp (Petrolimex). Accordingly, the average price of WTI oil in September reached $85.97 per barrel, down $0.39, or 0.46% from August. The Brent oil average price in [...]
Vietnam is advising power-consuming manufacturers in the south to stagger production while the Nam Con Son gas pipelines that feed power plants undergo maintenance, an official at state utility Vietnam Electricity (EVN) said. Gas supply to two power plants with a combined capacity of about a quarter of the country’s total was to halt from [...]
The retail price of gas is always 30 percent higher than the actual value, because the products have to go through many middlemen before reaching out to consumers. However, no proper solution has been found to settle the problem. Gas importers now only “take care” for sales agents by offering sky high commissions, while they [...]
On August 19, Bolivia’s state-owned petrol company YPFB and the Vietnam Oil and Gas Group (PetroVietnam) signed an agreement in Santa Cruz, Bolivia on researching the oil and gas potential in the South American country. The official Bolivian news agency, ABI, reported that this research will provide a foundation for both sides to eventually explore, [...]
Vietnam gas agents are making VND45,000 profit from selling 12 kg Canister, local online newspaper Tuoi Tre reported citing Thu Duc gas agent. Of the sum, gas agents got around VND15,000 support from gas domestic suppliers as world gas prices fell to around $800 a ton, and the rest is the price difference between buying [...]
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