Volatility forces balancing act for Vietnam’s petrol market

Volatility forces balancing act for Vietnam’s petrol market

Amid the continuously fluctuating prices for oil and gasoline, Vietnam is injecting millions of US dollars into the import of these commodities while inadequacies in the domestic market have not yet been resolved.
Understanding global oil and gas sector management

Understanding global oil and gas sector management

Decree No.95/2021/ND-CP on petroleum trading officially took effect at the beginning of the year and was expected to strengthen the market.
Balancing the effects of global oil price fluctuations

Balancing the effects of global oil price fluctuations

Global oil prices are predicted to bounce back at the year-end, despite continued geopolitical tensions. Luong Van Khoi, vice president of the National Centre for Socio-economic Information and Forecast, spoke with VIR’s Nguyen Huong about how Vietnam’s socioeconomic development could be affected.
Economists petrol stabilisation fund to be scrapped

Economists petrol stabilisation fund to be scrapped

Economists and industry experts have voiced concerns over the petrol stabilisation fund continuing as a tool to keep prices down, deeming it too ineffective to make a real difference.
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.
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.
Eurozone stocks, euro tumble as Russia fuels energy crisis

Eurozone stocks, euro tumble as Russia fuels energy crisis

Eurozone stocks tumbled Monday and the euro hit a new 20-year dollar low on energy crisis fears, after Russia said it would not restart gas flows to Germany and effectively most of the continent.
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.
Oil and gas sector counting on vital new investment cycle

Oil and gas sector counting on vital new investment cycle

As oil prices anchor around $90-100 per barrel globally, changes in the oil and gas policy of many markets are expected to bring a new cycle of investment to Vietnam – with the government also taking steps to transition to renewable energy sources by cooperating with countries around the world.
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.
Construction companies weather the price hike

Construction companies weather the price hike

The recent cooling in the prices of some raw materials has alleviated pressure on construction companies.
Global fuel concerns force tax action

Global fuel concerns force tax action

The government is expected to apply a scheme to pare down taxes and fees for fuel products, as well as provide sufficient fuel for the economy, in a bid to offer support and ensure desired growth.
Additional oil spike impacts cannot be ruled out

Additional oil spike impacts cannot be ruled out

The Russia-Ukraine conflict has increased global oil market volatility. The economic impact of another oil price shock, should it materialise, would be significant.
Increasing oil prices setting back gas-related ventures

Increasing oil prices setting back gas-related ventures

Continuing global conflicts and price rises of various commodities are undermining the development and exploitation of oil and gas fields in Vietnam, and collaborations may continue to struggle if inflation pressures persist.
Reform needed to support oil and gas industry: experts

Reform needed to support oil and gas industry: experts

Experts have raised strong support for a comprehensive reform for the draft revised Petroleum Law that will help further develop the country’s oil and gas industry.
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