Petrol and oil imports increased until end of June 2023

Petrol and oil imports increased until end of June 2023

The Ministry of Industry and Trade (MoIT) is making efforts to ensure the supply sources of petroleum products in the domestic market.
Inspections planned at petroleum distributors and refineries

Inspections planned at petroleum distributors and refineries

On October 13, the Government Inspectorate of Vietnam established a delegation to inspect 15 key petroleum and gasoline trading facilities and two oil refineries
Oil jumps but dollar bruised on US data

Oil jumps but dollar bruised on US data

Oil prices jumped Monday on expectations of an OPEC output cut, while weak US data sent stocks higher amid rising hopes central banks may be able to ease off interest rate hikes.
Strategies considered to cope with oil shifts

Strategies considered to cope with oil shifts

As there is no silver lining ahead just yet when it comes to stabilised oil prices, economists and associations agree that corporate taxes should be reduced and oil reserves built to help cope with the current dilemma, but both of these solutions would be costly.
Thai oil refining firm TOP to expand operation in Vietnam

Thai oil refining firm TOP to expand operation in Vietnam

TOP, Thailand’s largest oil refining company by capacity, will select Vietnam as one of three destinations for its investment expansion.
Vietnamese oil facing significant hurdles

Vietnamese oil facing significant hurdles

The government is promoting energy self-reliance rapidly as global developments have significantly changed the world’s energy situation, pushing Europe into gas scarcity for this winter.
OPEC+ agrees oil output cut to prop up prices

OPEC+ agrees oil output cut to prop up prices

The OPEC+ oil cartel agreed Monday to cut production for the first time in more than a year as it seeks to lift prices that have tumbled due to recession fears.
OPEC+ to meet amid economic downturn fears

OPEC+ to meet amid economic downturn fears

Faced with recession fears, the OPEC+ countries are expected to agree a modest increase in oil production at a meeting on Monday, with some experts even forecasting a cut to support prices.
Oil dispute sharpens Baghdad-Kurd tensions amid deadlock

Oil dispute sharpens Baghdad-Kurd tensions amid deadlock

Iraq's oil wealth is rekindling tensions between federal authorities and the autonomous Kurdish region, in a row that could compromise the lifeline industry and keep investors away, analysts say.
Malaysia's Hibiscus Petroleum Berhad makes its foray into Vietnam

Malaysia's Hibiscus Petroleum Berhad makes its foray into Vietnam

Malaysian company Hibiscus Petroleum Bhd announced that its subsidiary had inked a deal with a Spanish energy company to acquire upstream assets in Vietnam.
Pandemic restricting local oil groups

Pandemic restricting local oil groups

The return of coronavirus in Vietnam is once again dragging down local oil businesses as a silver lining for their recovery has been rocked.
OPEC to try to stem oil price plunge amid coronavirus slowdown

OPEC to try to stem oil price plunge amid coronavirus slowdown

The OPEC club of oil-producing countries meets Thursday (Mar 5) in Vienna as they weigh how to react to a sharp drop in global oil demand due to the outbreak of the new coronavirus.
OPEC chops global oil demand growth forecast over China virus

OPEC chops global oil demand growth forecast over China virus

The OPEC oil cartel on Wednesday (Feb 12) lowered its forecast for growth in global oil demand this year by nearly a fifth due to the impact of the coronavirus outbreak in China.
Novel coronavirus highlights OPEC reliance on Chinese oil demand

Novel coronavirus highlights OPEC reliance on Chinese oil demand

Fears of an economic slowdown, fuelled by the novel coronavirus slashing output in China, has shone the spotlight on OPEC, whose oil is heavily bought by the world's second-biggest economy.
Oil market chilled by virus impact on China growth

Oil market chilled by virus impact on China growth

Oil prices have fallen victim to economic worries sparked by a deadly virus spreading from China, the world's second-biggest economy and a huge consumer of crude.
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