oil industry pins hopes on strong 2021 recovery

Oil industry pins hopes on strong 2021 recovery

Although the global oil and gas industry is experiencing greater uncertainty than usual due to the coronavirus pandemic, experts believe a rebound in demand will likely happen in 2021, if global economic growth recovers as projected.
petrovietnam reports positive results in first seven months

PetroVietnam reports positive results in first seven months

Despite facing the double crisis of falling oil prices and the COVID-19 pandemic, PetroVietnam achieved positive business results in the first seven months with an after-tax profit of more than VND10 trillion ($434.8 million).
pork and oil prices key to keeping inflation under control experts

Pork and oil prices key to keeping inflation under control: experts

With huge inflation pressure on the way in the remaining months of this year, a close watch must be kept on the prices of key products like oil and pork to hit the goal of keeping inflation below 4 per cent, experts have said.
shell says will take up to 22bn hit from coronavirus

Shell says will take up to $22bn hit from coronavirus

Energy giant Royal Dutch Shell will take a vast charge of up to $22 billion (19.6 billion euros) due to chronic fallout from coronavirus and collapsing oil prices, it announced Tuesday.
opec allies meet to discuss output cuts

OPEC, allies meet to discuss output cuts

VENNA: OPEC and its allies were holding talks via video conference Saturday (Jun 6) to assess their current deal to slash production as oil prices tentatively recover on easing coronavirus lockdowns.
petrovietnam continues to make important economic contributions despite covid 19

PetroVietnam continues to make important economic contributions despite COVID-19

Although facing the double crisis of COVID-19 and the lowest-ever oil price, PetroVietnam has spotted opportunities to consolidate its business and get ready for a new stage of development.
modest inflation expected for 2020

Modest inflation expected for 2020

Despite a four-month high in the consumer price index, Vietnam will likely be successful in reining in inflation this year thanks to a decline in oil price and public demand, as well as the government’s efforts to stabilise prices in the market.
oil and gas groups switch strategies to avert strain

Oil and gas groups switch strategies to avert strain

The latest bout of market turbulence has pushed the price of oil into negative territory, but investors can still turn the state of events to their advantage.
local oil stocks rebound as opec cuts output

Local oil stocks rebound as OPEC cuts output

As soon as the OPEC members have started cutting the output, the global oil price has steadily upgraded, leveraging up the local oil stocks these days.    
local petroleum firms forecast plunging revenue in 2020

Local petroleum firms forecast plunging revenue in 2020

Facing the dual pressures of COVID-19 and the oil price war between Russia and the OPEC, local petroleum manufacturers foresee great plunges in revenue this year.
ministry to support businesses to ensure budget revenue

Ministry to support businesses to ensure budget revenue

The Ministry of Finance will focus on improving the business climate and creating favourable conditions for businesses to accelerate growth, which is important to ensure State budget revenue amid the COVID-19 pandemic's impacts on socio-economic development.
petrovietnam workers put in maximum effort to overcome oil price fall and covid 19

PetroVietnam workers put in maximum effort to overcome oil price fall and COVID-19

PetroVietnam employees are giving their best to overcome the double impacts brought about by the biggest decrease in oil prices in the last 17 years and the global COVID-19 pandemic.
petrol and oil giants lost billions of dollars on plunging oil

Petrol and oil giants lost billions of dollars on plunging oil

The revenues of PetroVietnam and Petrolimex slumped by VND141 trillion ($6.13 billion) and VND12 trillion ($521.74 million) this year due to the dropping oil price and the COVID-19 health crisis.
petrovietnam struggling with dual crisis of covid 19 and sharp decrease of oil price

PetroVietnam struggling with dual crisis of COVID-19 and sharp decrease of oil price

PetroVietnam and its subsidiaries are actively implementing solutions to cope with the double impact of the COVID-19 epidemic and the lowest oil prices in the world market in the last 17 years.
nosediving oil price deals a blow to state budget

Nosediving oil price deals a blow to state budget

Though the steep dive in global crude oil price is expected to benefit domestic logistics and production, it will not be a boon for local petrol firms and the state budget this year.