Saigon Petro Company Limited recently proposed policies for the development of E5 RON 92 to be reviewed over the significant declines in sales of this biofuel.
As many as 815 enterprises in the southern largest economic hub of Ho Chi Minh City owe more than six months of social insurance payments, while thousands of enterprises owe two months.
Japan-Kuwait joint venture Idemitsu Q8, the first 100-percent-foreign-owned oil & gas retail company in Vietnam, has opened its third petrol station in the northern province of Hung Yen.
The supply of E5 bio-fuel is enough to meet the local demand and can fully replace RON 92 petrol beginning next year, the Ministry of Industry and Trade (MoIT) said.
Vietnam is expected to continue importing petroleum products for the next five years as production of major oil refineries is unable to meet the increasing local demand.
The retail price of a 12 kg cooking gas canister in Ho Chi Minh City and southern localities climbed by 19,000 VND (0,85 USD) to nearly 300,000 VND (13.44 USD) per canister from November 1.
The national fuel price stabilisation fund had over 3.97 trillion VND (180.4 million USD) as of December 31, 2015, according to the Finance Ministry on February 2.
The Saigon Petro Company on February 1 reduced the retail price of a 12kg cooking gas canister in HCM City by 20,500 VND (0.92 USD) to 257,000 VND (11.55 USD).
From December this year E5 bio-fuel made by adding ethanol will be produced and sold nationwide, according to the Prime Minister's Decision 53/2012/QD – TTg on the road map for using E5 petrol.
Representatives of relevant agencies and fuel trading firms in Ho Chi
Minh City have met to discuss ways to boost the sale of E5 bio-fuel at
more filling stations here in the city, a local newspaper reported.
Sales manager of Saigon Petro Company Tran Minh Ha believes that E5
gasoline marketing needs to be boosted, the Sai Gon Giai Phong
(Liberated Sai Gon) reported.
The Ministry of Finance decided to lift the import tax on all kinds of
petrol on Feb. 22 to prevent petrol dealers from raising their retail
prices, according to a Ministry of Finance's circular issued on Feb. 21.
Business
XIII National Congress of Communist Party of Vietnam
