Economy

Saturday, April 4 2020

COVID-19 price decline hit Việt Nams oil industry

COVID-19, price decline hit Việt Nam’s oil industry

Việt Nam’s crude oil and natural gas production face downside risks, in light of a double-whammy of global oil price collapse and sluggish demand due to continued spread of Covid-19, according to Fitch Solutions.

Local shares end positively on oil price hikes, better market sentiment
Shares kept rising higher on Friday as oil prices picked up in the afternoon session to life energy stocks and spread positive impact across the market.
China raw materials supply resumes, but Việt Nam’s export markets close borders

Raw material imports from China are no longer the concern for many Vietnamese industries, and it is now the frequent cancellation of orders by US and EU customers, according to the Ministry of Industry and Trade.
Telecom companies speed up internet, discount services amid COVID-19
The Ministry of Information and Communications has asked telecommunications businesses to implement a number of supporting programmes to people.
Dung Quất oil refinery plans to halt production due to COVID-19
Bình Sơn Refining and Petrochemical (BSR) is planning to halt production at the Dung Quất oil refinery as demand for petroleum falls due to COVID-19.
Australia initiates anti-dumping investigation on Vietnamese steel products
The information was released by the Trade Remedies Authority under Viet Nam's Ministry of Industry and Trade.
Brokerage firm HSC delays annual meeting
HCM City Securities Corporation (HSC) has decided to postpone its annual shareholders’ meeting due to the coronavirus.
VN stocks rise further on oil price hikes
The Vietnamese stock market was closed on Thursday for a national holiday.
State investment agency aims to sell stake in Hải Phòng Thermal Power this month
The initial price of each share (HND) will be VNĐ26,000 (US$1.09), which means SCIC could expect to receive a minimum of VNĐ1.17 trillion.
Room for Vietnamese farm produce exports to Singapore amid COVID-19
The encouraging performance amid the COVID-19 pandemic was mainly thanks to the office’s efforts in connecting associations of the two countries in order to help businesses grasp opportunities to boost their exports.

Highlight

News from Media-OutReach