Tag: oil

Vietnam to have made-in-Vietnam oil and petrol products

VietNamNet Bridge – The Dung Quat Oil Refinery is expected to be putting out the first made-in-Vietnam commercial oil flow in two months, according to Deputy General Director of Dung Quat Oil Refinery Dinh Van Ngoc. Deputy General Director of Dung Quat Oil Refinery Dinh Van NgocNgoc said that the oil refinery will become officially operational on February... Read more

Deputy PM reminds oil refinery contractors of February deadline

A view of Dung Quat, the country’s first oil refinery. Deputy PM Hoang Trung Hai, who visited it Saturday, called for construction to be expedited so that it is finished in time by next February. With major sections of the Dung Quat oil refinery almost complete, contractors should continue to work quickly to make sure of... Read more

Oil plunges to $40 on disappointing OPEC cut

Crude oil tumbled to its lowest level in nearly four and a half years on Wednesday as an OPEC production cut failed to boost the bearish market sentiment over slumping demand. Algerian Energy & Mines Minister and current rotating president of the Organization of Petroleum Exporting Countries (OPEC), Chakib Khelil speaks at a press conference held after the... Read more

PVN prepares for bad scenario when oil price plunge to $30

VietNamNet Bridge – The Vietnam National Oil and Gas Group (PetroVietnam) said it is preparing for a bad scenario when the crude oil price drops to $30/barrel, a decrease of $40/barrel from the initial estimated level. PetroVietnam said that the continued crude oil price decreases over the last few days have created difficulties for the group in seeking... Read more

Old tank blamed in Da Nang oil spill

VietNamNet Bridge – Border guards, police and the environment protection centre retrieved two thirds of the oil spilled in Da Nang City yesterday while the rest was allegedly taken by local people. This was the second time an oil spill happened in the locality.Phan Dinh Vinh, deputy head of H182 Oil and Petrol Depot, said the incident occurred on Monday... Read more

Oil leaking from damaged petrol and oil depot on Hai Van pass

VietNamNet Bridge – The petrol and oil depot on Hai Van pass was damaged, resulting in an oil spill and flowing into the sea. Local residents try to obtain as much as they can for personal useSerious trouble occurred with the petrol and oil depot on Hai Van pass in Hoa Hiep Bac ward, Lien Chieu district in the central city of Da Nang on December 15. The... Read more

Oil tanker blaze kills one in Nha Trang Bay

The oil tanker ablaze off Nha Trang Bay in central Khanh Hoa Province. At least one person was killed and two others injured in an explosion on an oil tanker anchored in Nha Trang Bay Sunday afternoon. As of 8:30 Sunday, firefighters were still battling the blaze on the 45-ton oil tanker, nearly seven hours after... Read more

First oil refinery to sell all products

VietNamNet Bridge - The PetroVietnam Corporation (PV Oil) has announced that it is building oil storage facilities and a distribution network to enable the sale of 3.2 million tonnes of products from the Dung Quat oil refinery.  The nation’s first oil refinery in the central province of Quang Ngai is scheduled to commence operations by the end of next... Read more

Crude oil price falling, lubrication oil rising

VietNamNet Bridge – The lubricants for engines have not seen any price decreases, but have even been increasing, despite the sharp falls of the crude oil prices in the world market. Why? Many lubricant trading companies said that they cannot slash the sale price of lubricants because they still need to sell the stocks that they previously imported at high... Read more

City bus fares slashed by at least VND1,000 on cheaper oil

VietNamNet Bridge – Bus fares within HCM City and to neighbouring provinces have been cut by VND1,000-2,000 since Saturday, the municipal transport department said. The city People’s Committee announced last Friday it was putting on hold a plan to allow buses to carry advertisements, citing weaknesses in the system, including poor oversight of advertising... Read more

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