Tuesday, February 25, 2020 1:06:45 AM - Markets open
VN-INDEX 903.34 -29.75/-3.19%
HNX-INDEX 104.18 -3.91/-3.62%
UPCOM-INDEX 55.23 -1.07/-1.90%
Việt Nam reduces petroleum imports
Vietnam News - 9/26/2019 3:19:00 PM
 (0 ratings. You must sign in to rate.)
Việt Nam imported more than 6.5 million tonnes of petroleum products from January to September 15, spending US$3.97 billion, according to the General Department of Customs.
Imports reduced sharply both in volume and value by 2.4 million tonnes and $1.97 billion from the same period last year.
The country imported 214,191 tonnes of petroleum with total value of $124 million in the first 15 days of September.
Việt Nam’s four major import products in petroleum were petrol, diesel oil, fuel oil and jet fuel.
Of the four product groups, petrol and diesel oil had the largest reduction in volume, while the other two had little change compared to the same period in 2018.
In the period, import volume dropped by 745,000 tonnes to 1.17 million tonnes for petrol and 1.6 million tonnes to 3.24 million tonnes for diesel oil.
Jet fuel reached more than 1.43 million tonnes, lower than the volume of 1.46 million tonnes in the same period last year while fuel oil was 550,000 tonnes, little higher than 472,000 tonnes in 2018.
The General Department of Customs also said Asian markets are Viet Nam's biggest source of petroleum imports and import volume fell sharply against the same period last year.
Petrol and oil imported to Việt Nam in the first eight months of this year mainly came from Asian markets such as Malaysia, South Korea and Singapore.
Of which, import volume reached 1.8 million tonnes from Malaysia, down 25.6 per cent; 1.54 million tonnes from South Korea, down 31.4 per cent; and 1.4 million tonnes from Singapore, down 29.4 per cent, reported Hải quan (Customs) newspaper.
With 4.74 million tonnes, these three Asian markets accounted for more than 75 per cent of Việt Nam’s total petroleum import volume in the first eight months.
The reduction of Việt Nam's petroleum imports was due to stable operation at the oil refinery factory of the Nghi Sơn Refinery and Petrochemical Company (NSRP) in Thanh Hóa for more than a year.
The factory has total investment of more than $9 billion with designed capacity of 10 million tonnes of crude oil per year.  VNS
Read original article here
Newer News
23/02 Digital platforms improve competitiveness
22/02 Telecoms firms turning to digital content
20/02 Boosting structural reform and businesses’ competitiveness vital to grab CPTPP opportunities
13/02 VN’s GDP growth to reach 6.25 percent if COVID-19 outbreak is contained in Q1
08/02 VN acts to improve labour productivity
02/02 VN invests $3.97m abroad in January
30/01 CPI in January hits record high in recent 7 years
29/01 Pepper price to remain low this year
24/01 FDI inflow in Đà Nẵng hits nearly $700m in 2019
23/01 Japanese firms increase investments in advanced technologies in Việt Nam
Older News
25/09 Rooftop solar’s growing popularity in HCM City
22/09 Deputy PM attends expo, business summit in China
21/09 Shrimp export falls 8.1 percent in eight months
20/09 Crude import tax zeroed in November
17/09 Despite US exports rise, VN is urged to tighten origin rules to avoid investigations
15/09 VN, Cuba seek to expand investment, trade ties
10/09 Footwear, handbag exports reel in nearly 14.5 bln USD in eight months
06/09 Việt Nam faces difficulties in rice exports
04/09 Campaign collects businesses’ recommendations for economic policies
03/09 EU enhances inspections on Vietnam’s agricultural products from Sept 1
Newsletter Signup
Top Stories
VN shares mixed, but growth expected to return
VN stocks to keep falling on disease fears
Industry 4.0 brings big changes for stock market
Reference exchange rate up 1 VND on January 17
Reference exchange rate up 1 VND on January 15
Market Update
Last updated at 3:10:01 PM
VN-INDEX 903.34 -29.75/-3.19%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.