Today: 25/02/2024 05:49:19 (GMT+7)

Vietnam fuel imports doubled in 2022

Vietnam’s fuel oil and gasoline imports almost doubled to US$9 billion last year from $4.9 billion in 2021.

Volumes were 28% up to 8.9 million tons.

Diesel accounted for 54% of the volume, gasoline for 19% and jet fuel for 16%.

South Korea was the biggest supplier, providing 3.2 million tons, followed by Singapore and Malaysia.

Vietnam, fuel imports, doubled in 2022, fuel oil and gasoline, biggest supplier, largest refinery, increase production

A staff updates gasoline price in Ho Chi Minh City on October 21, 2022.

The fuel market saw major turbulence last year with many gas stations across the country shutting down in the second and third quarters as retail prices were too low for them to break even.

The Ministry of Industry and Trade has instructed distributors to increase supply by 10-15% from last year to 25.9-26.7 million tons this year.

The country’s largest refinery, Nghi Son, cut production by 25% earlier this month due to a technical issue, but fixed it by January 15 and promised to increase production during the rest of the month to make up.

It will again have to shut down starting August 25, this time for 55 days, for major maintenance work.

Some retailers said recently that since authorities did not fix new retail prices on January 21 as scheduled and instead put off the announcement to February 1 they are selling at low commissions and even making losses after global prices shot up during the Tet holidays which lasted from January 20-26.

34 injured as gas pipe explodes at Samsung supplier
At least 34 people were hospitalized after a gas pipe at a factory of South Korea's electronic component producer Seojin Automotive Co. Ltd in northern Vietnam exploded.
Gasoline prices hit six-month low
Vietnam gasoline prices on Thursday dropped 3.6-3.8% to the lowest since Feb. 11 as global rates kept falling.
​Vietnam halves import tariff on gasoline to 10%
Vietnam halved its Most Favored Nation (MFN) tariff on gasoline to 10% Monday as it seeks to diversify supply.
Finance ministry proposes tax cuts on gasoline
The Ministry of Finance has apprised the government of its plan to reduce special consumption tax and value-added tax on gasoline to bring its prices down.
Embassy takes actions to support victims of toxic gas leak in Jordan
The Vietnamese Embassy in Saudi Arabia and Jordan said it has asked competent agencies of Jordan, including the Ministry of Foreign Affairs, to coordinate in supporting Vietnamese citizens injured in a toxic gas leak at Jordan's Aqaba port on June 27, and handling relevant issues.

Source: VnExpress

Vietnam, fuel imports, doubled in 2022, fuel oil and gasoline, biggest supplier, largest refinery, increase production
New comment has just been added. Click here
Sort:NewBest News