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petroleum

Removing bottlenecks for domestic petroleum market

Removing bottlenecks for domestic petroleum market

Two petrochemical refineries, 38 key trading enterprises, over 320 distributors and representatives of private petroleum companies of more than 17,000 petroleum outlets are expected to join the exchange floor.
PTSC granted 550 million contract for Block B

PTSC granted $550 million contract for Block B

The PTSC contract is valued at approximately $550 million, following the Letter of Limited Authorisation (LLOA) signed in October 2023.
Four key petroleum traders and 20 distributors checked for signs of violation

Four key petroleum traders and 20 distributors checked for signs of violation

The MoIT held a meeting with key traders in the import and export business on Tuesday to discuss distribution and supply in the petroleum market in the first six months of this year and key directions for the second half...
PM asks for all efforts to ensure sufficient supply of electricity, petroleum products

PM asks for all efforts to ensure sufficient supply of electricity, petroleum products

Prime Minister Phạm Minh Chính asked relevant agencies and authorities to ensure sufficient supply of electricity and petroleum products in all situations.
Deputy PM assigns MoIT to establish a petroleum exchange floor

Deputy PM assigns MoIT to establish a petroleum exchange floor

Deputy Prime Minister Lê Minh Khái asked the Ministry of Industry and Trade (MoIT) to study the establishment of a petroleum exchange.
Dozens of traders quit petroleum distribution, struggling to compete

Dozens of traders quit petroleum distribution, struggling to compete

Sixteen traders have quit the petroleum distribution business since the beginning of 2024, but their leaving will not impact petroleum supplies, a representative from the Ministry of Industry and Trade said.
Decision on keeping petroleum price stabilisation fund to be made in June

Decision on keeping petroleum price stabilisation fund to be made in June

Total petrol import and production during the first four months of the year reached 7,88 million tonnes, or 9,93 million cubic metres with import accounting for 43.73 per cent.
Four individuals fined for stock manipulation

Four individuals fined for stock manipulation

The four individuals were each fined VNĐ1.5 billion for securities market manipulation.
Ministry revokes licences from four petroleum distributors

Ministry revokes licences from four petroleum distributors

The distributors are in Hải Phong City, HCM City, Hà Nội and Quảng Nam Province.
Foreign investors encouraged to invest in petroleum storage infrastructure

Foreign investors encouraged to invest in petroleum storage infrastructure

Under the plan, the focus will also be on developing the petrol stations along new roads and in new urban areas with an appropriate roadmap to reduce the number of small-scale and inefficient stations.
State authorities will not participate in petroleum price management process

State authorities will not participate in petroleum price management process

The second draft was revealed on April 1, a few days after the ministry submitted the first draft of the revised Decree on petroleum business.
Wholesale petroleum firms deciding their selling prices may cause unfair competition

Wholesale petroleum firms deciding their selling prices may cause unfair competition

The Ministry of Industry and Trade (MoIT) is drafting a decree to replace current decrees on petroleum business, including Decree 83 in 2014, Decree 95 in 2021 and Decree 80 in 2023.
Petrol stations told to implement new payment regulations by Marchs end

Petrol stations told to implement new payment regulations by March's end

Implementing the Prime Minister''s directions, the MoIT said resources must be made available to ensure businesses make a smooth transition to allow cashless payments. 
Cà Mau Petroleum Fertiliser JSC sets sight on Australia, NZ

Cà Mau Petroleum Fertiliser JSC sets sight on Australia, NZ

The Cà Mau Petroleum Fertiliser JSC (PVCFC) is preparing high-quality shipments to officially enter Australia and New Zealand, two of the world''s most demanding fertiliser markets.
The Ministry of Industry and Trade reviews the licensing of petroleum business

The Ministry of Industry and Trade reviews the licensing of petroleum business

Key traders must report specifically on the petroleum distribution system, including owned stores, leased stores, gasoline retail agents, gasoline retail franchisees and general gasoline trading agents.