Policy changes needed for refineries to keep high capacity

There has been increasing pressure on refineries to increase production as petrol prices continued to spike in recent months, according to Bùi Ngọc Dương director-general of Binh Son Refining and Petrochemical JSC (BSR)

VN to increase national fuel reserves

The Ministry of Industry and Trade has put forward a proposal to increase the country's fuel reserve by as much as four times, said Lê Việt Nga deputy head of the ministry's domestic market department during a conference on Thursday in Hà Nội. 

PetroVietnam surpasses oil exploitation by 22 per cent in January-May The Việt Nam Oil and Gas Group (PetroVietnam) pumped 4.55 million tonnes of crude oil in the first five months of 2022, surpassing the plan by 22 per cent, contributing to ensuring national energy security and national development.

Petrol companies to benefit from rising prices

Petrol producers and traders are expected to benefit from low-priced inventories as the price of petrol rises.

Petroleum demand forecast 5.2 million m3 in Q2 Demand for petrol in the second quarter is forecast at about 5.2 million cubic metres (m3).

Petrolimex's profit falls 40% despite soaring oil prices in Q1

Soaring crude oil prices could not help Petrolimex profit in the first quarter of 2022.

Petrol-and-oil import enterprises will face severe punishments for violations: MoIT

Enterprises in charge of importing petrol and oil will be strictly punished, and could even be suspended from operating, if found to be illegally holding petrol and oil to sell at a higher price later.

National Assembly to decide on tax cut for petrol products

A draft resolution on the environmental protection tax rates on petroleum, oil and lubricants, was submitted to National Assembly Standing Committee yesterday for final approval.

Petroleum supply faces tough challenges

The Ministry of Industry and Trade (MoIT) has instructed agencies to ensure the supply of petrol.

Fuel shortage raises need of Nghi Sơn’s restructuring

Experts have suggested the Government, the Ministry of Industry and Trade, the Ministry of Finance and localities need to think more carefully about the plan to jointly restructure the NSRP to reduce the adverse impact of the plant’s production problems on the market.