vietnam faces petrol shortage risks

Vietnam faces petrol shortage risks

Alhough the petrol situation in Vietnam is stable at present, a lack of investment, market barriers, and poor planning could potentially result in a shortage in the coming months.
petrol suffers too many taxes experts

Petrol suffers too many taxes: experts

Each litre of petroleum is subject to too many taxes, with burdens on businesses and consumers are increasing, according to industry experts.
vietnamese malaysian oil and gas service companies enter joint venture

Vietnamese, Malaysian oil and gas service companies enter joint venture

Vietnamese offshore support vessel service provider Hai Duong Petroleum and Marine Corporation (Haduco) and Malaysia’s oil and gas marine service provider RMS Synergy Sdn Bhd (RMS) on May 11 signed a cooperation deal in Kuala Lumpur to form a joint venture between the two companies.
petrol retailers to buy from multiple sources

Petrol retailers to buy from multiple sources

The Ministry of Industry and Trade (MoIT) informed the National Assembly's Economic Committee on April 21 that petrol retailers will be able to obtain products from multiple suppliers, including distributors and wholesalers, as opposed to the current sole source.
local authorities discuss fuel prices

Local authorities discuss fuel prices

The modification of petrol business regulations should consider the reasonable interests of all parties, according to government leaders.
vietnam to expand petroleum stockpiles to 75 80 days of net imports

Vietnam to expand petroleum stockpiles to 75-80 days of net imports

Deputy Prime Minister Tran Hong Ha has said the $11.5 billion investment capital needed to establish a petroleum reserve infrastructure system by 2030 will see the majority of the funding come from outside the federal budget.
over 250 petitions submitted to authorities on fragility of petroleum regulations

Over 250 petitions submitted to authorities on fragility of petroleum regulations

The petitions concern the alteration of petroleum business restrictions in decrees No.83/2014/ND-CP and No.95/2021/NQ-CP, resulting in losses for retail establishments.
price management tweaks urged for petrol retailers

Price management tweaks urged for petrol retailers

Petrol retailers and industry insiders are calling for a change in the state management of fuel to ensure businesses can stay afloat.
moit and mof discuss seven petroleum market issues

MoIT and MoF discuss seven petroleum market issues

The Ministry of Industry and Trade (MoIT) has suggested seven provisions to secure the petroleum supply, including an increase in the national petroleum reserve from nine to fifteen days of net imports.
petrol retailers rue continuing hardship

Petrol retailers rue continuing hardship

Petrol retail enterprises have struggled to keep their operations profitable as disruptions in the supply chain continue to persist.
ministry of industry and trade aims to stabilise petrol market

Ministry of Industry and Trade aims to stabilise petrol market

In 2022, Vietnam imported 8.87 million tonnes of petroleum, worth $8.97 billion, a sharp increase of 27.7 per cent year-on-year in volume and an increase of 118.5 per cent in value.
more oil refineries required in vietnam

More oil refineries required in Vietnam

Highly volatile petroleum prices in the global market and the fact that the current domestic supply can only meet about 70 per cent of the demand have underlined the need for more refineries in the country.
funds required for vietnams petroleum reserves

Funds required for Vietnam’s petroleum reserves

Vietnam’s plan to raise its crude oil reserves to 2.2 million tonnes by 2025 will be an uphill task, even though the country’s production output is currently reaching 340,000 barrels per day.
petrol and oil imports increased until end of june 2023

Petrol and oil imports increased until end of June 2023

Due to the fluctuations in the global energy market that could last until next year, the Ministry of Industry and Trade (MoIT) is making efforts to ensure the supply of petroleum products in the domestic market.
petrolimex readjusts profits to 10 per cent of plan

Petrolimex readjusts profits to 10 per cent of plan

Petrolimex, the petroleum distributor for the domestic retail market, has adjusted its profit target to one-tenth of the original forecasts.