crude oil

Update news crude oil

Vietnam has two oil refineries, Dung Quat and Nghi Son. Every year Vietnam imports millions of tons of crude oil while still exporting crude oil. What is the reason?

Petrol prices expected to jump

According to the Ministry of Finance’s Price Management Department, domestic petroleum prices may go up in the next review as a result of price increases in the world market.

Inventories surge, oil refinery seeks priority for domestic products

Quang Ngai provincial authorities have asked the Prime Minister to prioritize the use of petrochemical products from domestic oil refineries rather than from imports.

Iran plans to promote investments in Vietnam

The move is intended for Iranian businessmen and traders to become acquainted with the business potential of Vietnam and having more vigorous presence in this market.

Vietnam 2019 customs revenue hits all-time high of US$15 billion

Vietnam’s active participation in multilateral and bilateral trade agreements created a pathway for improvements in the country’s business environment and support local enterprises to grow.

Will Vietnam exploit more oil for higher GDP growth?

VietNamNet Bridge - The report on the GDP growth scenario of Vietnam in 2018 does not include the strengthening of oil exploitation, which had been expected.

Will tourism replace crude oil as a major source of revenue?

VietNamNet Bridge - Tourism and related services make great contributions to economic growth and offset the decline in crude oil output, experts say.

Tourism finds golden opportunity, crude oil loses position

VietNamNet Bridge - Deputy PM Vuong Dinh Hue says that Vietnam would rather attract one more million travelers than exploit 1 million more tons of crude oil.

Public debt rising rapidly as number of civil servants remains high

VietNamNet Bridge - To curb the public debt, Vietnam needs to cut public spending, including the downsizing of civil servant staff.

6.7 percent GDP growth rate within reach for VN

VietNamNet Bridge - Economists say Vietnam is coming closer to the goal of 6.7 percent GDP growth rate, though the country has not exploited as much coal and oil as planned.

Exploiting more oil to meet GDP growth rate is risky, experts say

VietNamNet Bridge - Exploiting more crude oil and coal to ensure GDP growth rate of 6.7 percent this year will be a very difficult task, an MPI report says.

Is GDP an important index to measure economic development?

VietNamNet Bridge - GDP is usually considered an important factor that shows the health of the economy in Vietnam.

Asia shares gain as crude oil bounce boosts risk assets

 Asian stocks rose across the board on Thursday as crude oil extended gains on hopes that big producers will cap production, improving investor sentiment for riskier assets.

Oil prices tumble 3 percent to just over $30; traders bet on more falls

 Crude oil fell 3 percent on Tuesday, heading toward $30 per barrel and levels not seen in over a decade, with analysts scrambling to cut their price forecasts and traders betting on further declines.

Ministries get 2016 assignments

 VietNamNet Bridge – The Prime Minister has signed a decision giving assignments to eight ministries to help realize this year’s socio-economic targets.

Asian stocks take heart from overseas gains

 Asian shares glided higher in early trading on Wednesday, taking their cues from overseas gains, although investors are cautiously watching to see whether renewed selling in crude oil futures will dent sentiment.

Asian shares rally as positive US close boosts confidence

 Asian shares traded higher on Tuesday, recovering from Monday's losses, as Wall Street's positive close boosted investor confidence.

Vietnam to consider more oil extraction to ensure GDP target

The economy is showing good signs but to achieve the targeted GDP growth of 6.5% this year, Vietnam might have to increase oil output, said Minister of Planning and Investment Bui Quang Vinh at the monthly cabinet meeting on July 29.

January-April crude oil exports down by US$1 billion

 VietNamNet Bridge – The world’s oil price plunge led Vietnam’s crude oil export turnover to fall by US$1 billion in the first four months of this year, according to the General Statistics Office (GSO).

Environment fee on fuels to triple from May

 VietNamNet Bridge – The National Assembly Standing Committee on March 10 approved a trebling of the environmental protection fees on gasoline except for bio-fuel, diesel and heavy oil from May 1 as proposed by the Government.