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Deputy PM urges Petrovietnam to stop both exporting and importing crude oil

Deputy PM urges Petrovietnam to stop both exporting and importing crude oil

Petrovietnam needs to speed up investment in refining to ensure domestic supply and stop exporting and importing oil at the same time, Deputy Prime Minister Le Xuan Thanh said.
Oil falls towards $125 as investors weigh US import ban

Oil falls towards $125 as investors weigh US import ban

Oil slipped towards $125 a barrel in volatile trading on Wednesday as investors assessed the U.S. ban of Russian oil imports and Russia announced a new ceasefire in Ukraine on Wednesday to let civilians flee.
March 9, 2022 | 04:27 am PT
Nghi Son refinery’s continuing woes lead to fuel shortage

Nghi Son refinery’s continuing woes lead to fuel shortage

The US$9-billion Nghi Son oil refinery accounts for 34 percent of domestic supply, and enjoys tax exemption and other incentives, but continues to rack up losses.
February 27, 2022 | 09:54 pm PT
Vietnam’s biggest refinery strikes funding deal to keep going

Vietnam’s biggest refinery strikes funding deal to keep going

The Nghi Son Refinery and Petrochemical Company and state-run Petrovietnam (PVN) have reached a short-term financial assistance deal to keep Vietnam’s largest refinery going.
January 29, 2022 | 05:55 am PT
Vietnam could face gasoline shortage amid refinery’s financial woes

Vietnam could face gasoline shortage amid refinery’s financial woes

A gasoline shortage looms since the Nghi Son Oil Refinery, Vietnam’s biggest, has cut production by 20 percent due to financial problems and seems likely to shut down.
January 26, 2022 | 12:45 am PT
Persistent imports cause Dung Quat oil refinery inventories to balloon

Persistent imports cause Dung Quat oil refinery inventories to balloon

Despite reducing production by 10 percent, the Dung Quat oil refinery has 1.2 million barrels of petroleum products in inventory, but imports of petroleum products continue unabated.
August 12, 2021 | 08:03 pm PT
Crude oil exports plunge as resource depletes

Crude oil exports plunge as resource depletes

Vietnam’s crude oil export is plunging, partly because of depleting resources. An industrialist says the situation can only improve after new fields come online in several years.
March 23, 2021 | 08:00 pm PT
Jan-Feb petroleum exports plummet

Jan-Feb petroleum exports plummet

Petroleum exports in the first two months this year fell 21.6 percent year-on-year in volume and 21.3 percent in value.
March 17, 2020 | 06:09 pm PT
Nghi Son Refinery occupies third of domestic petroleum market

Nghi Son Refinery occupies third of domestic petroleum market

Vietnam’s second oil refinery produced 4.6 million tons of petroleum in its first year running, or about 33 percent of domestic consumption.
December 12, 2019 | 02:30 am PT
Vietnam inks crude oil deal with Azerbaijan

Vietnam inks crude oil deal with Azerbaijan

Vietnam’s oil refinery operator BSR has struck a deal to import five million barrels of crude next year from Azerbaijan.
December 2, 2019 | 01:39 am PT
Coal, crude oil imports see upsurge

Coal, crude oil imports see upsurge

Vietnam’s coal and crude oil imports increased in the first ten months this year as energy demand rose alongside economic expansion.
November 13, 2019 | 07:45 pm PT
Vietnam to scrap crude oil import tax

Vietnam to scrap crude oil import tax

Vietnam will remove the current five percent import tax on crude oil imports starting November 1 as domestic supply dwindles.
September 18, 2019 | 12:43 am PT
Petrolimex reports increase in profits

Petrolimex reports increase in profits

Petrolimex, Vietnam’s biggest petroleum retailer, has reported an 8 percent year-on-year increase in pre-tax profits in the first 6 months.
September 3, 2019 | 05:28 pm PT
Binh Son refinery buys first Nigerian crude cargo

Binh Son refinery buys first Nigerian crude cargo

Vietnam’s Binh Son Refining and Petrochemical has bought one million barrels of Bonny Light crude in its first-ever import of Nigerian crude. 
August 30, 2019 | 12:52 am PT
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