Vietnam Petro sales falls to 532.000 m3 in july: Petrolimex

Vietnam oil and gas consumption fell sharply in July to 532.000 m3, or 62% of 860.000 m3 sold in February due to lower demand, Petrolimex said in a meeting with the Ministry of Industry and Trade on August 1.

Dam Thi Huyen, deputy CEO of Petrolimex said the company’s inventory rose to 40 days in June from the average of 30 days earlier on lower sales. Huyen also said that Petrolimex could not cut oil and gas prices in June due to high inventory of VND2 trillion imported at high prices in the first quarter.

She also added that oil and gas price stabilization fund swung to VND102 billion balance from negative figure in early June. -Stoxplus.com

Tags: Petrolimex

Posted by VBN on Aug 2 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