Key petroleum importers and distributors in Vietnam have affirmed that the Shell refinery explosion in Singapore will in no way affect the supply, saying that they will ensure the normal supply to the domestic market. Tran Huu Phuc, Director of Vinapco, the only air petrol suppliers in Vietnam, has affirmed that the explosion in Singapore [...]
Vietnam government disagreed with the proposals to raise electricity, petrol prices, Vu Duc Dam, Minister, Chairman of Government Office, told state-run Vietnam Television at a press conference after Government regular meeting in September. The Minister also said that the Government does not agree with the fact that electricity and petrol groups excusing loss making to [...]
Four large domestic petroleum distributors will go under the microscope to better manage this essential commodity. The Ministry of Finance (MoF) last week decided to establish three teams to inspect the petrol and oil import product prices of Petrolimex, PV Oil, Saigon Petrol and Dong Thap province-based Petimex. Petrolimex is the country’s largest fuel importer [...]
Vietnam’s petroleum pricing system was the main issue during a recent meeting between Government officials and big oil companies. Bad management Nguyen Loc An, Deputy Director of the Ministry of Industry and Trade’s (MoIT) Domestic Market Department criticised the Ministry of Finance’s (MoF) decision to lower petroleum prices this August. According to An, the price [...]
The Ministry of Finance (MoF) has established three teams to inspect the prices of imported fuel at four major domestic distributors The Ministry of Finance (MoF) has established three teams to inspect the prices of imported fuel at four major domestic distributors including the Viet Nam National Petroleum Corporation (Petrolimex), PetroVietnam Oil Corporation, Sai Gon [...]
The Ministry of Industry and Trade (MOIT) thinks that the petroleum product pricing mechanism has become inextricable due to the unreasonable pricing management by the Ministry of Finance (MOF). In reply, MOF argues that it takes responsibility about the price control before the public, and that if enterprises continue incurring loss, they should leave the [...]
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