January 21, 2010
LookAtVietnam – National oil and gas group, PetroVietnam, has warned that Vietnam should not pin its hopes on discovering big oil and gas fields in the future. In the meantime, demand for oil and gas continues to increase. Forty percent of the total electricity output of Vietnam is generated by gas-run power plants. Therefore, if Vietnam [...]
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August 27, 2009
LookAtVietnam – Seven petrol importers and distributors are seeking permission from compentent ministries to raise the retail price of petrol by 1,000 dong per litre. The importers say that as the crude oil price in the world keeps rising sharply, if they do not raise the sale price, they will continue incurring the loss of [...]
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June 30, 2009
One year ago, when the world’s oil price peaked at $147 per barrel, the domestic petrol price was 19,000 dong per litre. Now the figures are $70 and 13,500 dong per litre, respectively. Since the beginning of April, the domestic petrol price has increased four times by 2,500 dong per litre in total, or 22 [...]
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May 13, 2009
The Central Institute of Economic Management (CIEM) this morning released its annual economic report, giving three scenarios for the performance of Vietnam’s economy in 2009. CIEM says that because of the global financial crisis and the domestic economic downturns, the main economic indices and GDP growth rates in 2009 in all the three scenarios are [...]
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April 29, 2009
The Ministries of Finance and Industry and Trade believe that it is necessary to keep the petrol price unchanged, at least until the end of the four day May holiday. The crude oil price on the world’s market has been decreasing slightly, but the price remains at high levels. Petrol importers have complained that they [...]
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February 23, 2009
Though the Dung Quat oil refinery has become operational, Vietnamese people will still have to wait 10 more years to have cheap petrol. People will still have to wait 10 more years to have cheap petrolNguyen Viet Thang, Deputy General Director of Binh Son Petrolchemical Company Ltd, said that the crude oil Vietnam sells to [...]
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