Trang chủEnegry News' Vietnam

Petrol prices see sharp fall of up to 4,252 VND per litre

Petrol prices see sharp fall of up to 4,252 VND per litre

  The retail prices of petrol plummeted from 3pm of March 29, making it the sixth consecutive reduction since the beginning of this year. The retail prices of petrol plummeted from 3pm of March 29, making it the sixth consecutive reduction since the beginning of this year. Following the latest adjustment by the Ministry of Industry and Trade and the Ministry of Finance, the ...

Dwindling oil prices a double-edged sword for Việt Nam's economy

Dwindling oil prices a double-edged sword for Việt Nam's economy

  HÀ NỘI – Oil logged its worst week since 2008 after the oil price war, initiated by Saudi Arabia early last week, delivered a double blow to nervous investors already rattled by declines in world stocks due to the spread of the novel coronavirus, or COVID-19. The world watches, and so does Việt Nam – where export of crude oil has been contributing significantly to the ...

Smoother path expected after bumpy week for oil

Smoother path expected after bumpy week for oil

Despite global oil prices experiencing a tumultuous week due to the huge drop in Chinese oil demand, some Vietnamese oil and logistics businesses remain positive about the future.  Following the coronavirus outbreak, global oil prices have suffered a sharp decline, with the price of crude falling to a year low on February 4 as traders reacted to the magnitude of the health crisis in ...

Coal, crude oil imports see upsurge

Coal, crude oil imports see upsurge

Workers pick out gravel from coal at a coal port in Hanoi. Photo by Reuters/Kham. Vietnam’s coal and crude oil imports increased in the first ten months this year as energy demand rose alongside economic expansion. Between January and October, the country’s crude oil imports rose 80.6 percent from a year earlier to 6.8 million tons, valued at $3.2 billion, according to Vietnam ...

Vietnam to abolish import tax on crude oil from November

Vietnam to abolish import tax on crude oil from November

  Vietnam will abolish an import tax on crude oil from November, the government said on Tuesday, as the Southeast Asian country becomes more reliant on imported crude for its refineries. The country has required more imported crude to offset slowing domestic output as its reserves decline at existing fields and because of China’s increasingly assertive stance in the region hampers ...

HSBC forecasts VN economic slowdown in 2019

HSBC forecasts VN economic slowdown in 2019

A production line at the Dinh Vu Polyester Fibre Plant in the northern city of Hai Phong. — VNA/VNS Photo Viet Nam’s economy will grow at 6.6 per cent this year, slightly down from last year’s 7.1 per cent, HSBC has forecast in a report it released this week. It said average inflation would be 3.1 per cent, meeting the central bank’s target of ‘below 4 per cent’. GDP growth ...

Vietsovpetro surpasses oil and gas production targets for Q1

Vietsovpetro surpasses oil and gas production targets for Q1

Friday, Apr 05, 2019  The Viet Nam-Russia joint venture Vietsovpetro reported that its oil and gas production in the first quarter of 2019 surpassed its target for the period, vietnamplus.vn reports. — Photo vietsov.com.vn The Viet Nam-Russia joint venture Vietsovpetro reported that its oil and gas production in the first quarter of 2019 surpassed its target for the period, ...

LNG power plants take centre stage in Vietnam, foreign investors keen

LNG power plants take centre stage in Vietnam, foreign investors keen

The first quarter saw a flurry of interest among foreign investors in LNG-fired power projects in Vietnam. Thailand’s Gulf Energy Development Public Company Limited (Gulf), at a meeting in early March with Ninh Thuan authorities, expressed interest in building a $7.8-billion liquefied natural gas (LNG)-fired power complex in Ca Na, a coastal commune in the central province of Ninh ...

Vietnam data: Jul crude oil imports surge as Nghi Son ramps up production

Vietnam data: Jul crude oil imports surge as Nghi Son ramps up production

Vietnam boosted imports of crude oil in July as the 200,000 b/d refinery at Nghi Son was preparing for trial runs of 100% capacity in September. Vietnam imported 557,393 mt (131,796 b/d) of crude oil in July, up from none in the same month last year, and 107.8% higher from June, preliminary data released by Vietnam Customs Thursday showed. In the first seven months, Vietnam imported ...

Coal, oil and gas mining exceed six-month targets

Coal, oil and gas mining exceed six-month targets

Natural gas exploitation reached an estimated 5.3 billion cubic metres in the first six months. — VNA/VNS Photo Crude oil output reached 7.1 million tonnes in the first six months of this year and in doing so hit 54.3 per cent of the annual target. According to the Ministry of Industry and Trade (MoIT), prices and consumption of crude oil and some minerals had increased over the same ...

Qatar to supply oil products to Vietnam over 15 years

Qatar to supply oil products to Vietnam over 15 years

The state-owned Qatar Petroleum (QP) has signed an agreement to supply Vietnam with up to two million tonnes of LPG and Naphtha per year for a period of 15 years, the company’s management announced in statement today. The agreement was signed between the Qatar Petroleum for the Sale of Petroleum Products Company Limited (QPSPP) and Long Son Petrochemicals Company Limited (LSP), a subsidiary ...

SOCAR to supply oil to Vietnamese refinery

SOCAR to supply oil to Vietnamese refinery

SOCAR Trading, a subsidiary of Azerbaijan's state owned oil company SOCAR, agreed with the Vietnamese state owned company Binh Son Refining and Petrochemical Co. (BSR) and state oil trader PV Oil on oil supplies, the BSR reported on Dec. 8. The agreement is non-binding. Under the agreement, SOCAR Trading will supply three million barrels of Azeri Light oil per month and two million barrels ...

Vietnam’s Sept crude oil output falls 9.9 pct y/y to 1.06 mln T

Vietnam’s Sept crude oil output falls 9.9 pct y/y to 1.06 mln T

Vietnam’s crude oil output in September is estimated at 1.06 million tonnes (259,000 barrels per day), down 9.9 percent from a year ago, the government said on Friday. Crude oil output in August was revised to 1.095 million tonnes, lower than the earlier estimate of 1.14 million tonnes, the General Statistics Office said in its monthly report. Vietnam’s January to September crude oil ...

Tough challenges foreseen for Vietnam’s oil, gas sector

Tough challenges foreseen for Vietnam’s oil, gas sector

The Communist Review, a magazine of the Communist Party of Viet Nam, and the Viet Nam Union of Science and Technology Associations held the seminar to discuss the achievements, opportunities and challenges facing the oil and gas industry and to propose solutions to maintain its dominance in the process of international integration. Vu Van Ha, deputy editor-in-chief of the Communist Review, ...

Vietnam gasoline prices rise again

Vietnam gasoline prices rise again

Thanh Nien News   Gasoline prices went up for a second time this year Tuesday -- following a sudden hike two weeks ago -- as global oil prices trended upward.   The price of 92-RON gasoline, the most popular variety in Vietnam, went up by VND520 per liter, or nearly 4 percent, to VND14,940 (US$0.67). Its greener version, E5, went up 3.8 percent to VND14,442 ...