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Challenges ahead for oil industry

Challenges ahead for oil industry

Vietnam’s oil industry needs to overcome four big challenges to maintain its position as a leading economic sector.

PetroVietnam surpasses production targets for 11 months

PetroVietnam surpasses production targets for 11 months

The Vietnam National Oil and Gas Group (PetroVietnam) has reported an oil and gas production output of 22.1 million tonnes in the first 11 months of 2018, surpassing its target by 5.4% and fulfilling 96.8% of its yearly plan.

Singaporean, Vietnamese businesses foster connectivity

Singaporean, Vietnamese businesses foster connectivity

VOV.VN - A conference on Singapore-Vietnam business connectivity was held in Ho Chi Minh City on October 15, drawing representatives of 12 Singaporean businesses including two groups - Sembcorp and NTUC, who are on a Vietnam trip from October 15-19 to seek trade and investment opportunities.

Fuel prices set to put pressure on inflation

Fuel prices set to put pressure on inflation

Increases in environmental protection taxes on petroleum from the beginning of next year would weigh heavily on inflation, especially as fuel prices rise worldwide, according to the Vietnam Institute For Economic and Policy Research (VEPR).

Vietnam runs US$5.9 billion trade deficit with SEA region

Vietnam runs US$5.9 billion trade deficit with SEA region

VOV.VN - The value of trade between Vietnam and the Southeast Asia region increased 18.8% to US$49.4 billion last year, of which exports accounted for US$21.7 billion (up 10.4%) and imports US$27.7 billion, up 14.9% on the previous year.

Bien Dong POC Company fulfils yearly target

Bien Dong POC Company fulfils yearly target

The exchange value of gas and condensate of the Bien Dong 1 project carried by the Bien Dong Petroleum Operating Company (Bien Dong POC) hit US$511 million in 2017, a rise of eight percent compared to the yearly plan.

Cleaner Euro 4 fuel hard to get

Cleaner Euro 4 fuel hard to get

Duc Thuan of Hanoi’s Ha Dong district bought a car with a Euro 4 emission standard after specific regulations were issued for such models in Vietnam. However, he said, finding Euro 4 fuel is “a whole other challenge”.

Kien Giang lures US$1.77 billion investment in six months

Kien Giang lures US$1.77 billion investment in six months

The Mekong Delta province of Kien Giang licensed 24 projects, including three foreign direct investment (FDI) projects, with a combined registered capital of US$1.77 billion, 3.6 times higher than the number of 2016.

Top tax paying firms revealed

Top tax paying firms revealed

The minerals and petroleum sectors have come out on top amongst corporate taxpayers on a list of 1,000 leading corporations, accounting for 30% of total tax payments this year.

Thai consumer goods flood Vietnam market

Thai consumer goods flood Vietnam market

VOV.VN - Thai goods are flooding Vietnamese market and much sought after by Vietnamese customers for high and stable quality and reasonable prices.

Petroleum product imports from ASEAN increased

Petroleum product imports from ASEAN increased

Vietnam’s import of petroleum products from the Association of South East Asian Nations (ASEAN) countries rose sharply in the past five months, according to the Ministry of Industry and Trade.

Japan-Kuwait venture to join Vietnam’s petroleum market

Japan-Kuwait venture to join Vietnam’s petroleum market

The upcoming operation of Idemitsu Q8 Petroleum LLC in Vietnam’s petroleum market is expected to increase the competitiveness of the local oil and gas product market and bring more benefits to local consumers, experts said.