Petrolimex increases consumption of Nghi Sơn Refinery products

August 08, 2018 - 14:40

The Việt Nam National Petroleum Group (Petrolimex) has limited the imports of petroleum products to consume products of Nghi Sơn Refinery factory located in the central province of Thanh Hóa since this month.

Petrolimex limited the imports of petroleum products to consume products of Nghi Sơn Refinery. — Photo baocongthuong.com.vn

Viet Nam News

HÀ NỘI — The Việt Nam National Petroleum Group (Petrolimex) has limited the imports of petroleum products to consume products of Nghi Sơn Refinery factory located in the central province of Thanh Hóa since this month.

According to the General Department of Customs, tax revenue from imported petroleum in the first seven months of this year reached VNĐ21.6 trillion (US$951.5 million), increasing VNĐ5.4 trillion compared to the same period last year.

Thus, the increase in revenue of the customs sector over the seven months is mainly due to the increase in the value of imported gasoline.

The General Department of Customs estimated tax revenue from gasoline imports in the final months of the year will decrease sharply.

The volume of imported gasoline last month decreased by 42 per cent compared to June, reducing the revenue of the customs sector by about VNĐ1.5 trillion.

In a calculation last month, the General Department of Customs estimated that the Nghi Sơn Refinery will supply 3.99 million tonnes of petroleum products to the market.

Therefore, the amount of imported gasoline will be reduced and the budget revenue of the customs sector is forecast to drop by VNĐ15 trillion. — VNS

Tags Petrolimex General Department of Customs Vietnam News Vietnam economy biz news Petrolimex limited the imports of petroleum products to consume products of Nghi Sơn Refinery

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

Vietcombank to sell OCB shares next month

Vietcombank will sell all of its remaining 1.48 million Orient Commercial Bank (OCB) shares at an auction on September 6.

Economy

Ngọc Linh gets to the root of expansion

The Intellectual Property Agency of Việt Nam, under the ministry of science and technology, has expanded recognition of the Geographical Indication (GI) of Ngọc Linh’ for ginseng root products grown in 15 communes of Quảng Nam and Kon Tum Provinces.

Economy

Bà Rịa - Vũng Tàu pulls the plug on port

Bà Rịa-Vũng Tàu Province has decided to scrap the proposed US$477 million Mỹ Xuân port saying its construction has been delayed for too long.

Economy

Tiền Giang to expand dragon fruit growing area

The Cửu Long (Mekong) Delta province of Tiền Giang is expanding its specialised growing zone for dragon fruit, a fruit that has helped several local farmers grow rich.

Economy

Illegal factories inspected

Đồng Nai Province authorities have asked the Department of Natural Resources and Environment to send an inspection team to the Phước Tân industrial complex to examine its illegal construction of factories.

Economy

EU offers export opportunities

Việt Nam, with strength as a tropical agricultural country, has been integrating deeply into the global economy as it can produce a variety of agricultural products with high nutritional and commercial value.

Economy

Bakery feels over the moon after US export deal

The Asia Bakery and Confectionery Pte.Ent, known as ABC Bakery, has wrapped up export procedures for its first container of moon cakes (60,000 moon cakes) to be shipped to the US to be sold at supermarkets there.

Economy

Tackling credit shortage for SMEs

State authorities, financial institutions and enterprises must sit together to tackle credit shortages for small- and medium-sized enterprises.

Economy

VN seeks to perk up value of coffee products

Việt Nam aims to increase the value of coffee products by processing more than 25 per cent of its coffee beans by 2020, according to the Processing and Market Development Authority (AgroTrade) under the Ministry of Agriculture and Rural Development.