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Home>>Daily News>>Vietnam>>Economy>>Petrol price stabilisation fund balance surges to VND5.22 trillion

NEWS UPDATES Asean Affairs   November 22,  2017  








 



Petrol price stabilisation fund balance surges to VND5.22 trillion

The balance of the petrol price stabilisation fund surged to more than VNĐ5.22 trillion (some US$ 230 million) at the end of the third quarter of 2017, the Ministry of Finance reported on Monday.

Of the total, the balance of the fund at Việt Nam National Petroleum Group (Petrolimex) was the highest with VNĐ3.1 trillion. It was followed by PetroVitenam Oil Corporation (PV Oil) with VND457.6 billion, Military Petroleum Corporation (MIPECORP) with VNĐ381.6 billion and One-Member Limited Liability Oil and Gas Company of HCM City with VND352.7 billion.

However, there were five out of 27 petrol traders reporting negative fund balances. The highest negative fund balance was at Nam Việt Petro Refinery and Chemicals Company with over VND24.6 billion.

The fund used VND1.47 trillion to stabilise petrol retail prices in the third quarter of the year.

According to the ministry’s data, the fund’s balance has experienced significant growth since the beginning of this year. The amount was more than VNĐ2.4 billion trillion in the first quarter and VND3.97 trillion by the end of the second quarter, owing to the contribution made by petrol businesses. It jumped to over VND5.22 trillion in the third quarter.

Contributed by petroleum wholesale distributors, the price stabilisation fund aims to prevent a bigger retail price spike when the imported price surged


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ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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