Ministry wants lending conditions eased for fuel companies
HCMC – Minister of Industry and Trade Nguyen Hong Dien has asked banks to facilitate gasoline imports for suppliers and retailers by easing lending conditions and raising credit limits. Speaking at a conference on fuel supply for the domestic market, chairman of the Vietnam Petroleum Association
Nghi Son oil refinery back to normal as technical issues settled
HCMC – The Nghi Son oil refinery in the north-central province of Thanh Hoa addressed its technical issues a day earlier than expected and resumed operations at full capacity from yesterday afternoon, January 15. The oil refinery ramped up efforts to fix the leakage of its residual fluid catalytic
Nghi Son oil refinery’s output falls 25% due to technical issues
HCMC – The output of the Nghi Son Refinery and Petrochemical LLC, which accounts for 40% of the domestic fuel supply, is estimated to fall by 20-25% or around 125,000 cubic meters in the first 10 days of 2023 due to technical issues. Nghi Son has shut down its residual fluid catalytic cracking
Over US$8 billion spent on fuel imports from Jan-Nov
HCMC – Vietnam spent around US$8.12 billion importing 7.89 million tons of fuel between January and November, up 23.9% in volume and 119.6% in value versus the year-ago period, according to the General Department of Vietnam Customs. Among those, the country imported 4.27 million tons of diesel
Fuel supply enough for Lunar New Year consumption
HCMC – Given the current volume of fuel imports and stockpiles, Vietnam has enough fuel supply to satisfy the increasing demand during the Lunar New Year 2023, Trinh Quang Khanh, vice president of the Vietnam Petroleum Association said on December 8. The country’s two oil refineries, Binh Son and
Fuel supply estimated to surge 10-15% in 2023
HCMC – The Ministry of Industry and Trade has drawn up two scenarios for the minimum fuel supply in 2023, requiring key fuel enterprises to increase the overall figure by 10-15% in 2023, according to the local media. In the first scenario, the total fuel supply should reach 25.9 million cubic
Lenders told to meet fuel importers’ credit needs
HCMC – The central bank governor has written to commercial banks urging them to give fuel companies priority access to new loans. In an official dispatch sent to bankers, the State Bank of Vietnam (SBV) stated that fuel is a strategic commodity, so it plays an important role in macroeconomic
Fuel suppliers told to tap reserves to quench thirst
HCMC – Minister of Industry and Trade Nguyen Hong Dien has ordered state-run wholesalers to tap their commercial fuel reserves to meet the demand and mitigate the ongoing fuel shortage. To meet the rising fuel demand, the Vietnam National Petroleum Group, Petrolimex, is tasked with supplying
Gasoline queues
Stabilizing the commodity market and consumer sentiment is of paramount importance to growth and consumption. The recent past saw long queues of people at gas stations as supply fell short, which triggered worries about fuel market chaos. The phenomenon, however, offers an insight into