VOV.VN - The retail price of petrol fell by more than VND830 per litre as of 3 p.m. on April 12 following the latest adjustments made by the Ministry of Industry and Trade and the Ministry of Finance.

VOV.VN - The Hong Kong & Shanghai Banking Corporation (HSBC) has moved to lower Vietnam’s GDP growth rate for the year from the previously-projected 6.5% to 6.2% amid fears of rising oil prices globally.

The Ministry of Industry and Trade (MoIT) will instruct enterprises to work to ensure domestic oil and gas supply in the second quarter of this year, Deputy Minister Do Thang Hai has said.

VOV.VN - The United Arab Emirates (UAE) is Vietnam’s leading economic and trade partner in the Middle East, and Vietnam wants to expand all-round cooperation with the state, said Minister of Industry and Trade Nguyen Hong Dien who was visiting the UAE.

It is a must to ensure energy self-sufficiency and balance in any circumstances, meeting energy demand in production, business, national defence and security, and other activities, said Prime Minister Pham Minh Chinh.

VOV.VN - Vietnam will build another oil refinery, the third of its kind, to ensure a sufficient supply of petroleum products for local consumption, said Deputy Prime Minister Le Van Thanh.

VOV.VN - Trade Minister Nguyen Hong Dien on March 16 played down legislators’ worries about petroleum supply disruption due to global price volatility, saying Vietnam has a sufficient supply of petroleum products for local consumption.

VOV.VN - The ongoing Russia-Ukraine conflict has led to a significant rise in oil prices, fueling production costs which have affected many industries and reduced the competitive advantages of Vietnamese enterprises, according to industry insiders.

VOV.VN - The Government has agreed with the Finance Ministry’s proposal to cut the environmental protection tax on petrol by half in an attempt to stabilize the petrol market and rein in inflation.

The Ministry of Industry and Trade has asked authorities of cities and provinces nationwide to step up checks and monitoring of oil and gas trade as the ongoing ups and downs of the global fuel market are having major impacts on the domestic supply and prices.