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The Nghi Son Refinery began commercial operation Sunday, and is expected to meet about 40 percent of domestic petroleum demand in 2019. Speaking at its inauguration, Prime Minister Nguyen Xuan Phuc emphasized the key role of the project. The refinery will…
Vietnam’s second-largest oil retailer, PV Oil, is seeking multiple buyers, instead of a single strategic investor, for a 44.72 percent stake. Although many investors expressed interest in becoming strategic partners with PetroVietnam Oil (PV Oil), including…
Malaysians can now utilise cashback from ShopBack every time they refuel at petrol stations. The No.1 Cashback portal in the country recently inked a partnership with Petron Malaysia, becoming the first in the country to allow users to convert cashback to…
Petroliam Nasional Bhd’s (Petronas) net profit for the third quarter ended Sept 30, 2018 rose 43% to RM14.3 billion from RM10 billion a year ago due to higher revenue. The group said in a statement today that the higher revenue was partially offset by higher…
Vietnam’s total oil refining capacity will nearly quadruple by 2023 as two new refineries go on stream, market data provider Fitch Solutions reports. The Dung Quat refinery in the central province of Quang Ngai operated by the state-owned PetroVietnam’s…
The government fuel tax cut, which was implemented to ease the burden on rising crude oil prices, has turned out to be more effective than initially expected. According to the Ministry of Trade, Industry and Energy on Sunday, the average price of gasoline at…
Moody’s Investors Service has downgraded Petronas LNG Ltd’s (PLL) ratings outlook to “negative” from “stable”, following the same outlook revision for its parent company Petroliam Nasional Bhd’s (Petronas) yesterday. At the same time, the rating agency has…
The National Assembly’s Standing Committee decided at a meeting Thursday to hike the environment tax on fuel from next year. Starting January 1 the tax on petrol will increase from VND3,000 (13 cents) per liter to VND4,000 (17 cents), and on diesel from…
The Nghi Son Refinery, which is now in its trial phase, is burdened by unsold inventories, Chairman of Thanh Hoa Provincial People’s Committee Nguyen Dinh Xung said at a recent government meeting. The unsold inventories signal challenges in product sale when…
Prices of oil and petrol products continued to decrease from 3pm on Saturday, following the latest price adjustment by the Ministry of Industry and Trade and the Ministry of Finance. The prices of RON 92 gasoline slightly dropped by VNĐ211 per litre, while…
The price of petrol has gone up because the price of refined petrol has increased, even though crude oil prices have dropped. In refuting allegations by the opposition, the Barisan Nasional Strategic Communications Team said today Malaysians used refined…
As expected, retail fuel prices will see an increase across the board as of midnight. For January, RON95 petrol will be priced at RM2.10 per litre, marking an increase of 20 sen compared to December retail price. RON97 petrol will be priced at RM2.40 per…
The Philippines’ largest oil refiner and distributor Petron Corporation is set to further expand its retail business as it continues to enjoy stronger sales and positive growth potentials, reported The Standard. Source: Petron Corporation Facebook Page This…
Weekly petrol prices Unleaded petrol: The Australian Institute of Petroleum will not release the weekly national average petrol price data until next Monday. Wholesale petrol: Today the terminal gate (wholesale) price of unleaded petrol stands at a near…
