The Ministry of Finance (MOF) issued an official letter No. 14315/BTC-VP on October 25 saying that the retail petrol prices cannot be cut now as imported prices, based on fuel oil pricing in Singapore, are higher than the domestic market prices. The MoF said it issued the document to make it clear to the public [...]
The Ministry of Finance (MOF) issued an official letter No. 14315/BTC-VP on October 25 saying that the retail petrol prices cannot be cut now as imported prices, based on fuel oil pricing in Singapore, are higher than the domestic market prices. The MoF said it issued the document to make it clear to the public [...]
The State Audit of Viet Nam released a report yesterday concluding that the petroleum price stabilisation fund – used by petrol distributors to offset losses due to market price fluctuation – has passed an audit with flying colours. During 2009-10, the fund was strictly and properly administered by the State, the report concluded. The amounts [...]
Sigma class corvettes are built to sizes ranging from 50 to 150m in length and 9 to 15m width, addressing the whole spectrum from Offshore Patrol Vessel (OPV), via corvette to frigate size vessels meeting a wide range of customer demands. In fact, the class name Sigma stands for Ship Integrated Geometrical Modularity Approach. The [...]
The South Korea-based Daelim Industrial Group has signed a memorandum of understanding (MoU) with Vietnam National Petroleum Corp (Petrolimex) to be an investor of Van Phong Oil Refinery project in central Khanh Hoa Province. Representatives of the Korean group have told officials from the Ministry of Planning and Investment about the deal, but having not [...]
Vietnam’s September crude oil exports fell 41.7 percent from August to 531,000 tonnes (129,000 barrels per day), though slightly higher than a previous estimate of 530,000 tonnes, the Vietnam Customs department said on Monday. The country’s oil product imports rose 10.1 percent in September from a month earlier to 960,000 tonnes, the customs department run [...]
Sri Lanka on Friday signed agreements with Vietnam to buy oil and share oil and gas expertise, just after it announced the discovery of natural gas offshore in the Mannar Basin. Those two agreements were among eight signed after a two-day visit by Vietnamese President Truong Tan Sang, along with a business delegation, to explore [...]
Do Van Hau, general director of Vietnam National Oil and Gas Group (PetroVietnam) announced that PVGas has currently faced difficulty in offloading the shares to strategic partners. The main reason behind this was because the debt of 10 trillion dong that Electricity of Vietnam (EVN Group) failed to pay PVGas and PetroVietnam Power Corp (PVPower) [...]
Vietnam Air Petrol Co., Ltd (Vinapo), a member of Vietnam Airlines has placed a 5,000-tonne per month order of jet fuel till the end of 2011 to the Dung Quat refinery. The company received the first batch of the petrol on Oct. 12 to supply to airports in the central region. The owner of Dung [...]
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. [...]
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