Việt Nam National Petroleum Group (Petrolimex) reported a pre-tax profit of VNĐ2.443 trillion (US$107.6 million) in the first half of 2017, which is 52.2 per cent of its annual target.
The domestic retail price of petroleum increased by VNĐ357 to reach VNĐ16,426 (73 US cents) per litre as of 3pm on Thursday, the Ministry of Industry and Trade (MoIT) said.
The supply of E5 bio-fuel is enough to meet the local demand and can fully replace RON 92 petrol beginning next year, the Ministry of Industry and Trade (MoIT) said.
The Việt Nam National Oil and Gas Group (PetroVietnam) has decided to form teams to handle its loss-making projects since the snail-pace progress of the process has displeased the Government.
The Ministry of Industry and Trade on Thursday worked with petrol wholesalers on the roadmap to replace RON 92 petrol with E5 bio-fuel from 2018.
Under the joint decision by the ministries, RON 92 and E5 petrol is sold at a maximum prices of VNĐ16,069 (71 US cents) and VNĐ15,918 VND (70 US cents) per litre respectively
The unfavourable working conditions at sea have forced Vietnamese naval guards to come up with brave and inventive ways to fight maritime smuggling.
The Việt Nam Petroleum Association (VINPA) has sent a document to the Ministry of Finance (MoF) in support of the ministry’s proposal to increase the environmental protection tax on oil and gas consumption.
Việt Nam will replace RON 92 petrol with E5 bio-fuel from the beginning of next year.
The domestic retail price of petroleum increased by VNĐ303 to reach VNĐ17,366 (77 US cents) per litre as of 3pm on Monday, the Ministry of Industry and Trade (MoIT) said.