29/03/2020

  The retail prices of petrol plummeted from 3pm of March 29, making it the sixth consecutive reduction since the beginning of this year. The retail prices of petrol plummeted from 3pm of March 29, making it the sixth consecutive reduction sin..

16/03/2020

  HÀ NỘI – Oil logged its worst week since 2008 after the oil price war, initiated by Saudi Arabia early last week, delivered a double blow to nervous investors already rattled by declines in world stocks due to the spread of the n..

14/02/2020

Despite global oil prices experiencing a tumultuous week due to the huge drop in Chinese oil demand, some Vietnamese oil and logistics businesses remain positive about the future.  Following the coronavirus outbreak, global oil prices have suff..

16/01/2020

While global oil supplies in 2019 were vulnerable, the fluctuations have not affected long-term petrol prices, yet business plans for some in the market in 2020 remain complicated. As per the West Texas Intermediate oil pricing benchmark, the price ..

14/11/2019

  This year will mark the nadir of oil demand growth over the next five years, according to a new report from Fitch Solutions Macro Research (FSMR). “We forecast demand to grow by around 0.5 percent this year, rising to 0.8 percent in 20..

14/11/2019

In its 2019 World Energy Outlook (WEO), the International Energy Agency projects in its “current policies” scenario that energy demand rises by 1.3%/year to 2040, with increasing demand for energy services unrestrained by further efforts ..

14/11/2019

  Crude oil markets traded in a relatively narrow range in October following heightened volatility in September stemming from the attack on Saudi Arabian crude oil processing facilities. Crude oil markets traded in a relatively narrow range ..

14/11/2019

Workers pick out gravel from coal at a coal port in Hanoi. Photo by Reuters/Kham. Vietnam’s coal and crude oil imports increased in the first ten months this year as energy demand rose alongside economic expansion. Between January and October..

18/09/2019

  Vietnam will abolish an import tax on crude oil from November, the government said on Tuesday, as the Southeast Asian country becomes more reliant on imported crude for its refineries. The country has required more imported crude to offset s..

05/04/2019

Crude oil prices in the international market witnessed a robust leap, hitting the $70 dollar mark on Thursday, the first time since November, 2018. This is coming amidst expectations of a tight global supply of the product despite pressures arisin..

05/04/2019

A production line at the Dinh Vu Polyester Fibre Plant in the northern city of Hai Phong. — VNA/VNS Photo Viet Nam’s economy will grow at 6.6 per cent this year, slightly down from last year’s 7.1 per cent, HSBC has forecast in a r..

05/04/2019

Friday, Apr 05, 2019  The Viet Nam-Russia joint venture Vietsovpetro reported that its oil and gas production in the first quarter of 2019 surpassed its target for the period, vietnamplus.vn reports. — Photo vietsov.com.vn The Viet Nam-R..

25/03/2019

The first quarter saw a flurry of interest among foreign investors in LNG-fired power projects in Vietnam. Thailand’s Gulf Energy Development Public Company Limited (Gulf), at a meeting in early March with Ninh Thuan authorities, expressed int..

13/08/2018

Vietnam boosted imports of crude oil in July as the 200,000 b/d refinery at Nghi Son was preparing for trial runs of 100% capacity in September. Vietnam imported 557,393 mt (131,796 b/d) of crude oil in July, up from none in the same month last year..

12/07/2018

The Energy Information Administration forecasts total U.S. crude oil production to average 10.8 million barrels per day (MMBPD) in 2018, up 1.4 MMBPD from 2017. In 2019, crude oil production is forecast to average 11.8 MMBPD. If realized, the foreca..

12/07/2018

Natural gas exploitation reached an estimated 5.3 billion cubic metres in the first six months. — VNA/VNS Photo Crude oil output reached 7.1 million tonnes in the first six months of this year and in doing so hit 54.3 per cent of the annual ta..

15/05/2018

Crude Oil Price Movements In April, the OPEC Reference Basket (ORB) rose by $4.67, or 7.3%, month-on-month (m-o-m), to average $68.43/b, with Dated Brent and Dubai rising by nearly 9% each, while spot WTI increased by 6%. Year-todate (y-t-d), the OR..

30/04/2018

The state-owned Qatar Petroleum (QP) has signed an agreement to supply Vietnam with up to two million tonnes of LPG and Naphtha per year for a period of 15 years, the company’s management announced in statement today. The agreement was signed ..

07/04/2018

Analysts Wood Mackenzie say around 30 major oil and gas projects are expected to reach final investment decisions (FIDs) this year. A major project is considered to have commercial reserves of more than 50 million barrels of oil equivalent. Rystad ..

07/04/2018

  Here's a question hanging over oil markets: Should traders be paying more attention to geopolitical risk? A few recent analyses on the topic, spurred by escalating conflict between Saudi Arabia and Yemen's Houthi rebels (and by extension Iran..

07/04/2018

Shale drillers boosted drilling activity in the U.S. oil patch to the highest in three years even as American crude output touched unprecedented levels. U.S. working oil rigs rose by 11 this week to 808, the highest since March 2015, according to da..

07/04/2018

The alliance between Opec and Russia that co-ordinated historic oil-output cuts could last “indefinitely” and be formalised by setting up a new organisation including other major producers, said Russian Energy Minister Alexander Novak. T..

07/04/2018

“Our bullish outlook on prices rests heavily on a positive story for demand,” BMI Research in a recent report, adding that the OPEC-led output cut deal has played a key role in supporting market recovery. The agency, however, warned that..

11/12/2017

At this time of the year, I’ll give my 10 predictions for 2018, covering the macro economy, interest rates, currencies, stock markets and housing markets over next three weeks. For next year, the global economic outlook remains promising, but ..

11/12/2017

SOCAR Trading, a subsidiary of Azerbaijan's state owned oil company SOCAR, agreed with the Vietnamese state owned company Binh Son Refining and Petrochemical Co. (BSR) and state oil trader PV Oil on oil supplies, the BSR reported on Dec. 8. The agre..

02/10/2017

Vietnam’s crude oil output in September is estimated at 1.06 million tonnes (259,000 barrels per day), down 9.9 percent from a year ago, the government said on Friday. Crude oil output in August was revised to 1.095 million tonnes, lower than ..

28/09/2017

The Communist Review, a magazine of the Communist Party of Viet Nam, and the Viet Nam Union of Science and Technology Associations held the seminar to discuss the achievements, opportunities and challenges facing the oil and gas industry and to propo..

07/04/2016

Thanh Nien News   Gasoline prices went up for a second time this year Tuesday -- following a sudden hike two weeks ago -- as global oil prices trended upward.   The price of 92-RON gasoline, the most popular variety in Vietnam, went up ..

18/01/2016

HA NOI (Biz Hub) — Local retail petrol prices could be adjusted daily instead of every fortnight in the future, Do Thang Hai, deputy minister of Industry and Trade, said.   Hai told a press conference in Ha Noi on Tuesday that the most s..

29/12/2015

VOV News English The shares of oil and gas companies have seen a price decrease of 49% by November compared with the same period last year, the sharpest so far.   Dung Quat Oil Refinery not to close Dung Quat oil refinery plant embarks on e..

29/12/2015

Truong Vi HA NOI (VNS) — Vietnamese shares yesterday rose slightly on both local markets as energy stocks benefited from higher oil prices. The benchmark VN Index on the HCM Stock Exchange gained 0.3 per cent to close at 566.17 points aft..

25/12/2015

HA NOI (Biz Hub) — Transport businesses must adjust transport fees in accordance with changes in fuel prices; otherwise, they may have their business license withdrawn, according to a Ministry of Finance document released yesterday. The Mi..

23/12/2015

Vietnam will exempt some state firms from a Pacific trade pact agreed this week and has negotiated to keep export taxes on its crude oil and coal to support an overstretched state budget, its chief negotiator said on Friday.   The nation is se..

23/12/2015

As oil prices continue to fall, oil and gas giant PTT Plc has said it will delay three oil refinery and facility projects worth an estimated US$3 billion each in Vietnam, Myanmar and Indonesia, Thai media reported Thursday.   Chansin Treenucha..

22/12/2015

Experts at the Ministry of Planning and Investment's Center for Economic and Social Information and Forecast made the prediction as oil prices have been on a downward slope since the beginning of this year, falling 33 percent for the year to around $..

22/12/2015

Retail gasoline prices in Vietnam decreased by more than two percent on Friday in the last fuel price adjustment of this year, following the global downward trend.   Vietnam's most popular gasoline grade 92-RON now sells at VND16,405 (73 US ce..

22/12/2015

A graphic image of Long Son petrochemical complex in the southern province of Ba Ria - Vung Tau. Photo credit: baobariavungtau.com.   SCG Chemicals Co, a subsidiary of Thai industrial conglomerate Siam Cement Group, has been in talks with seve..

22/12/2015

Retail gasoline prices in Vietnam decreased by more than two percent on Friday in the last fuel price adjustment of this year, following the global downward trend.   Vietnam's most popular gasoline grade 92-RON now sells at VND16,405 (73 US ce..

16/12/2015

The Tam Dao 05 jack-up rig is launched in southern Ba Ria-Vung Tau Province. — VNA/VNS Photo Manh Duong   BA RIA-VUNG TAU (VNS) — A ceremony was held in the southern province of Ba Ria-Vung Tau yesterday to launch Tam Dao 05 offsho..

07/12/2015

Plunging oil prices have left many crude-exporting countries with budgets that simply won't balance. For many of the biggest producers — places like Saudi Arabia, Venezuela and Algeria — oil accounts for the majority of the country's exp..

07/12/2015

Vietnam’s gas prices drop again following global trend Vietnam on Thursday cut gasoline prices for the fourth consecutive time since mid October, this time by 1.5 percent. The retail price for the most popular grade 92-RON was reduced by VND2..

24/11/2015

Summary Oil demand in 2015 isn't weak, it is strong especially in the United States where consumption has surged. Relative to 2013, oil demand in 2015 has increased by over 800,000 barrels per day which is nearly equal to a full year of global grow..

24/11/2015

According to inter-ministries of finance and industry & trade’s requirement, the retail prices of RON 92 and E5 petrol were reduced by VND 178 per liter as of 3pm yesterday.According to inter-ministries of finance and industry & trade’s r..

19/11/2015

What will happen to the economic fortunes of OPEC members if it turns out the Saudis and their Gulf Arab allies (UAE, Kuwait, and Qatar) bet on the wrong horse in November 2014? With the wager Saudi Oil Minister Al al-Naimi announced on market forces..

03/11/2015

Tanzeel Akhtar, special to CNBC.com As the price of oil continues its decline, economists have warned on a lack of upward price pressures for the commodity for at least another two years. David McNew | Getty Images News ..

03/11/2015

Tom DiChristopher Dealmaking among companies that process, store, and transport oil and gas reached $63.5 billion in the third quarter, accounting for more than two-thirds of mergers and acquisitions activity in the U.S. energy ..

26/10/2015

* State firms in "national security" areas exempt * Export taxes remain on coal, crude, ores * ILO requirements on unions will be followed * Vietnam seen as one of the biggest gainers from TPP ADVERTISING   By Martin Petty an..

26/10/2015

Gazprom is considering entry into Vietnam’s energy market and constructing an LNG terminal in Dong Nai – according to news website Vietnam News. In an article it states that Russia’s gas giant Gazprom met with Dong Nai provincia..

26/10/2015

VOV News English  The domestic retail price of petroleum was reduced by VND136, bringing it to VND18,003 (80 US cents) per litre as of 3pm on October 19, the Ministry of Industry and Trade said. Petrol prices cut by nearly VND1,200 pe..

16/10/2015

The safe money for oil traders is betting that Venezuela's plan to resurrect Opec's old price band mechanism, attempting to set a $70 floor for the battered market, will be doomed from the start. Saudi Arabia, the group's de facto leader, has shown ..

15/10/2015

 worldoil.com Pramod Kulkarni, World Oil With the industry facing low crude oil prices for the foreseeable future, the Middle East and North Africa (MENA) region remains an oasis of increasing oilfield activity, due to minimal lif..

09/10/2015

Tax authorities have ordered the exploration arm of the state-owned PetroVietnam to pay VND80.1 billion (US$3.56 million) of back taxes and penalties after inspectors found a misdeclaration of profit.  PetroVietnam Exploration Production Corpor..

08/10/2015

Vietnam on Saturday increased gasoline prices again after only two weeks, as the Ministry of Industry and Trade said global fuel prices have seen “irregular fluctuations.” Facebook Twitter 0 vote(s) Comment Save this news Gas prices wen..

08/10/2015

The National Financial Supervisory Commission (NFSC) reduced its forecast of inflation to below 2 % while forecasting gross domestic product (GDP) growth at 6.5 % for 2015. Those expectations were the important contents of the commission's rep..

01/10/2015

Lianna Brinded The price of oil has been below $60 a barrel all year, but Saudi Arabia, the world's largest oil producer, has remained quiet about how this is affecting the country's balance sheet. Today we got a glimpse of the country's pain: Sa..

01/10/2015

John Manfreda Recently, Bloomberg reported that Iran’s oil minister had spoken with Mexican officials with regard to stabilizing the oil market. Iran claims that, if OPEC decides to more actively manage the oil market, that Mexico, the third l..

01/10/2015

The national oil and gas group PetroVietnam has asked the government to apply necessary measures to restrict petrol imports so as to ensure the sale of products to be produced by the Nghi Son and Dung Quat oil refineries. In a document to the Pri..

01/10/2015

Simeon Kerr Saudi Arabia has withdrawn tens of billions of dollars from global asset managers as the oil-rich kingdom seeks to cut its widening deficit and reduce exposure to volatile equities markets amid the sustained slump in oil prices. The Sau..

29/09/2015

Nick Cunningham The French oil company Total released a downward revision to its production forecast, lowering its target from 2.8 million barrels per day (mb/d) in 2017, to 2.6 mb/d, a sign that low oil prices continue to cut into long-term oil pro..

29/09/2015

I am starting this post off with a news article because it explains why JODI has U.S. production numbers wrong for July. The Joint Organizations Data Initiative (JODI) releases monthly oil supply-and-demand data for about 80 countries, whic..