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Coconut oil prices are soaring in Asia, spearheaded by India—the largest consumer of the product—which has witnessed a tripling in prices within two years. This is attributable to a combination of supply shortages and burgeoning demand for the nutrient-filled…
In a proactive move to bolster food safety, Vietnam’s Industry Agency announced plans to conduct thorough inspections at oil production facilities, particularly focusing on smaller establishments that may lack adequate safety certification. This initiative…
India has received 34 million barrels of discounted Russian oil since Moscow invaded Ukraine on Feb. 24, according to Refinitiv Eikon data, more than trebling the value of total imports from Russia, including other products, compared with the same period of…
Oil prices tumbled more than 6% on Tuesday to their lowest in almost three weeks, as Russia suggested it would allow a revival of the Iran nuclear deal to go forward and as traders worried growing pandemic lockdowns in China could dent demand. Both Brent and…
ExxonMobil Lubricant has launched Mobil SuperTM SUV Pro synthetic engine oil for SUVs in India. Basically, the company is trying to tap into the growing demand for SUVs with the branding. The engine oil is based on ASTM D6891 (Seq. IVA) test results versus…
Oil prices fell about 1% lower on Friday, posting to their steepest weekly losses in months, on worries that travel restrictions to curb the spread of the Delta variant of COVID-19 will derail the global recovery in energy demand. Crude futures also came…
Oil prices steadied on Thursday, holding close to their highest in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity. Prices also drew support from doubts about the future of the 2015 Iran nuclear deal…
Petrolimex has reported pre-tax profits of over VND1 trillion ($44 million) in the first quarter thanks to the Covid-19 pandemic being contained and rising global oil prices. It has made a loss of VND1.7 trillion in the same period last year. The management…
Vietnam’s crude oil export is plunging, partly because of depleting resources. An industrialist says the situation can only improve after new fields come online in several years. Crude exports volume from January 1 to February 15 this year fell nearly 50…
Japanese oil giant ENEOS Corporation has registered to buy 25 million shares of fuel distributor Petrolimex on the Ho Chi Minh Stock Exchange. The transaction, to be completed in March, if successful, will see ENEOS increase its stake in Petrolimex to 2.94…
Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as oil output was set to decline from its 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares…
Thai oil company PTT is said to be preparing to make a bid for the Tesco Asia businesses in Malaysia and Thailand. The firm’s retail unit, which also owns the rapidly growing Cafe Amazon chain, will join local retailer Central Group and conglomerate Charoen…
Vietnam’s coffee exports in Q1 are expected to fall 15.3 percent from a year earlier to 477,000 tonnes, government data showed Friday. Coffee Coffee exports from Vietnam will likely fall an estimated 15.3 percent in the first quarter of this year from a year…
The volume of the legal cannabis market is expected to soar nearly 14-fold within six years according to research by Euromonitor International. Legal cannabis sales reached US$12 billion globally last year with exponential growth ahead, will reach $166…
Oil price fell about 2 percent on Thursday as the market was weighed down by concerns that global demand growth would lag in the coming year. A rebound from late December lows seemed to stall amid worries that a trade war between the U.S. and China would…
Vietnam National Oil and Gas Group has announced its 2018 results, which show it exceeded its revenue and state budget contribution targets. The state-run giant (Petrovietnam or PVN) reported revenues of VND626.8 trillion ($26.92 billion), 18 percent higher…
