VOV.VN - Domestic retail prices of petrol and oil dropped considerably as of 3 p.m. on November 25, according to a joint announcement by both the Ministry of Industry and Trade and the Ministry of Finance.

Despite the recovery of petrol prices, profits of many businesses in the oil and gas sector dropped in the third quarter of this year due to impacts of the COVID-19 pandemic.

Surging international crude oil price on improving demand has helped many oil and gas companies record big profits in the first quarter of this year, after losing in 2020.

The Vietnam Oil and Gas Group (PetroVietnam) enjoyed impressive production and business results in the first four months of 2021, thanks to its efforts to address bottlenecks to stimulate production and improve governance, besides an increase in oil prices.

Prime Minister Nguyen Xuan Phuc on January 11 said the Vietnam Oil and Gas Group (PetroVietnam) needs to remain a role model in expanding markets, optimising opportunities, connecting investment, and reviving growth, among other matters.

VOV.VN - The Ministry of Industry and Trade and the Ministry of Finance have announced plans to revise petrol and oil prices, with new rates starting to drop considerably as of 3 p.m. on November 11.

VOV.VN - The Ministry of Industry and Trade and the Ministry of Finance has revised the price of petrol to give it a slight increase, while oil products, with the exception of mazut, witnessed a decrease as of 3 p.m. August 27.