Vietnam to continue facing difficulties securing fuel supplies
Vietnam will continue to face difficulties securing refined petroleum products, its industry and trade minister said on Saturday, as authorities scramble to avert a fuel supply crunch.
Fuel shortage upends daily life in HCMC
Mauritz Pretorius has to go to several gas stations before he can fill his motorbike with VND50,000 ($2) worth of fuel since it has become scarce.
Vietnam urges fuel traders to release stocks to ease supply crunch concerns
Vietnam on Wednesday called on its largest fuel trading firms to release their stocks amid concerns about a fuel supply crunch.
121 HCMC gas stations run out of fuel
121 gas stations in HCMC, or 20% of the city’s fuel retailers, were without fuel Monday because wholesalers couldn’t replenish their inventory on time.
Ministry refuses to lift special consumption tax on gasoline
The Ministry of Finance refused a proposal to exempt special consumption tax on gasoline given the country’s tax rate is at a low level compared to many other countries.
Vietnam plans to cut MFN tariff on gasoline to fight inflation
Vietnam plans to cut its Most Favoured Nation (MFN) tariff on gasoline to 12% from 20% to help ease inflationary pressure, the government said on Thursday.
Vietnam 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 last week…
Vietnam considering fuel tax cuts amid inflation pressure
Vietnam is considering cutting taxes on fuel to help ease prices at all-time highs, but inflation remains under control and helped by domestic food production, its finance minister said on Wednesday.
Vietnamese man extradited to Germany over oil executive kidnapping
Fugitive Vietnamese state company official Trinh Xuan Thanh was abducted from Berlin park in July 2017
Vietnam plans to build third oil refinery
Vietnam is seeking to build its third oil refinery to meet domestic consumption demand as the country is facing a supply shortage and soaring energy prices, the deputy prime minister told a parliament meeting in the capital.
Vietnam oil industry braces for impact of Russia-Ukraine conflict
Surging crude oil prices may benefit the Vietnamese oil industry, but its exploration and exploitation activities are likely to be hit by the geopolitical situation.
Ukraine-Russia conflict could impact Vietnam oil drilling
PetroVietnam has cautioned that the disruptions to international trade caused by Russia’s invasion of Ukraine could impact its operations.
Vietnam refinery fails to tap oil boom over boardroom discord
Vietnam’s leading refinery appears to have missed out on a golden opportunity, slashing output during a global oil rally because of a lack of coordination among the project’s stakeholders.
Vietnam plans cut in environment tax on fuel as prices soar
Vietnam’s finance ministry on Thursday said it would propose to the government a cut in environment tax on fuel, amid soaring energy prices globally.
Vietnam hit by fuel shortages as hundreds of retailers run dry
Prime minister orders probe of market, sales of state gasoline. Governments worldwide face surging prices as crude oil soars.
Vietnam to inspect fuel distributors over petrol shortages
Vietnam’s Industry and Trade Ministry said it will inspect 33 of the country’s 36 fuel distributors as petrol shortages continue to be reported in the country.
How rising global oil prices impact Vietnam economy
The surge in crude oil prices to an eight-year high is set to have a major inflationary effect in Vietnam.
Vietnam’s largest oil refinery says agreement will allow stable operations
Vietnam’s Nghi Son Refinery and Petrochemical (NSRP) has said a lengthy shutdown will not be required for now after a major shareholder reached a short-term funding deal to keep the facility operational.
Vietnam’s Binh Son ups capacity, petrol firms boost imports amid shutdown fears
Vietnam’s Binh Son refinery on Wednesday said it was operating above capacity to address supply concerns, as top petroleum firms announced plans to boost imports amid fears of a shutdown of the country’s biggest refinery.
ExxonMobil stares down China for Vietnam gas
US energy giant recommits to $20 billion ‘Blue Whale’ gas project despite tacit threats from Beijing and shifting sentiment on fossil fuels
President Phuc discusses oil, energy cooperation in Putin meeting
Russia and Vietnam have agreed to continue their cooperation in the oil and gas sector.
Vietnam seeks information from Iran about seized oil tanker
A Vietnamese oil tanker was seized at gunpoint by Iranian soldiers in the Gulf of Oman on October 24, for reasons that remain unclear.
Vietnam in talks with Iran over seized oil tanker
Vietnam has been in talks with Iranian authorities over the seizure last month of a Vietnamese oil tanker off the Iranian coast, in an effort to guarantee the safety of the crew, the Southeast Asian nation’s said on Thursday.
Oil extraction challenges diminish Vietnam’s gains from rising prices
Vietnam is facing challenges in crude oil extraction due to depleting resources, offsetting potential gains amidst surging oil prices.
The U.S. risks losing out from its own trade push in Vietnam
The Trump administration pressured the country to award big LNG projects to American companies. Some of them may not materialize.
Malaysian oil company to enter Vietnam market
Malaysia’s Hibiscus Petroleum Berhad has acquired the assets of Spanish oil exploration and drilling firm Repsol Exploración, S.A. in Vietnam.