December 23, 2011
A Petrolimex gas station in Hanoi Economists suspect that Vietnam’s biggest fuel companies, particularly Petrolimex, may have deliberately reported huge losses and shifted profits to subsidiaries to evade tax. A recent inspection of major oil importers, including Petrolimex, found that they paid retailers, many of them its own subsidiaries, higher commissions than allowed and reported huge losses. [...]
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December 22, 2011
A Petrolimex gas station in Hanoi The Finance Ministry has found that major Vietnamese importers of oil products made smaller losses than they previously reported. Petrolimex, the largest fuel trader with a market share of around 60 percent, had reported losses of VND1.8 trillion (US$85.7 million) in the first six months. However, the actual loss [...]
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October 15, 2011
Vietnam’s new cabinet makes a strong start with several “smart technocrats”, but economic woes and lack of transparency pose hurdles, according to analysts Residents fishing next to Han River bridge in central coastal city of Da Nang. New Transport Minister Dinh La Thang last week took the unusual step of firing the manager of [...]
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January 16, 2011
Fuel companies have been ordered to keep prices stable The Vietnamese Finance Ministry has allowed fuel traders to draw more money from the national price stabilization fund and instructed them to keep prices stable. Since mid-November, fuel companies have taken VND1,200 from the fund for every liter of gasoline and kerosene sold; and VND1,000 for every [...]
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May 9, 2009
The government allowed fuel companies to raise retail prices by VND500 Friday but they plan to seek a further hike to cover losses from high import costs. The most popular 92-octane petrol now costs VND12,500 a liter and 95- octane petrol VND13,000.Diesel has gone up to VND10,500 and kerosene to VND12,000.The move is the third [...]
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