Some parts of an agreement signed with a foreign investor have pushed Vietnam into a dilemma.

Statistics show that petrol prices in Vietnam are lower than in many countries and territories. However, but people complain that the prices are too high.

If petroleum prices continue escalating, Vietnam will need to cut taxes and fees, in addition to using the petroleum price stabilization fund.

The limited supply of fuel from NghiSon, the biggest refinery in Vietnam, is not causing the current petroleum shortage in the market, analysts say.

A large number of petrol stations in several localities have suspended operations or have been forced to cut working hours over the past few days, reasoning that they have either faced losses or only received a limited supply of fuel.

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.

The government of Quang Ngai Province has written to the Government and ministries proposing not applying a regulatory charge of 7% to Dung Quat Oil Refinery and approving the refinery expansion project, 

VietNamNet Bridge - The national oil and gas group PetroVietnam has said it does not want to be responsible for the consumption of Nghi Son’s products which cannot meet the Euro 4 emission standard.

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.

 VietNamNet Bridge – The Japanese group - Idemitsu Kosan Corporation - said on June 5 that the investors had received a financing agreement of $5 billion from financial institutions for the Nghi Son oil refinery project.

The signing ceremony of the EPC contract for the Nghi Son oil refinery project with a total investment of $ 9 billion took place this morning, January 27, in Thanh Hoa province, in the presence of Prime Minister Nguyen Tan Dung.