Petrovietnam

If the epidemic continues escalating with more and more infection cases reported, thus having serious impact on the world economy, it is highly possible that the oil price would continue decreasing. If so, buying crude oil at this moment is not advisable. However, PetroVietnam needs to calculate how much and when to buy. … [Read more...] about PetroVietnam may buy crude oil to store

Hanoi (VNA) – Among the 10 most profitable firms in the banking – financial – securities sector in 2019, banks continue to be the focus of attention while the “trillions-of-VND” club has seen changes. The Vietnam Report JSC and online newspaper VietNamNet recently held a ceremony to announce the Profit500 2019 list, which names the most profitable businesses of the country this year. The Vietnam Oil and Gas Group (PetroVietnam) tops the rankings. This is the second year that the group has taken the leading position among the top 500 enterprises. Others in the top 10 include Samsung Electronics Vietnam Thai Nguyen Co. Ltd, Viettel Military Industry and Telecoms Group, Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), Honda Vietnam, PetroVietnam Gas Corporation, VinGroup, Vietnam Dairy Products JSC (Vinamilk), Vietnam Technological and Commercial Joint Stock Bank (Techcombank), and Hoa Phat Group. Among the 10 most profitable firms … [Read more...] about List of Vietnam’s most profitable banks in 2019 unveiled

By late last week, the average price of Brent crude in the London platform hit $30.40 per barrel for May contracts, down 30 per cent since late January, and the average price of WTI oil was $24.96 per barrel for April contracts, down 20 per cent in the same time. … [Read more...] about Nosediving oil price deals a blow to state budget

For every one dollar of oil price decrease, PetroVietnam’s revenue from oil sales would decrease by $225,000 per day. As such, with the oil price hovering around $30-35 per barrel, PetroVietnam would lose $3 billion in revenue in 2020. Demand for petroleum products of Binh Son Oil Refinery (BSR), PVOil and Nghi Son Petroleum Products Distribution Brach – PetroVietnam (PVNDB) has decreased by 30 percent. The inventory levels at the enterprises are very high, and storage costs are high.  … [Read more...] about Oil & gas sector bears double effects from Covid-19, oil price plunges

Other stocks, namely POW of PetroVietnam Power, SBT of Thanh Thanh Cong – Bien Hoa JSC, TCH of Hoang Huy Investment Financial Services JSC, NVL of No Va Land Investment Group Corporation, and PDR of Phat Dat Real Estate Development JSC have also slipped. … [Read more...] about March portfolio rebalancing spells trouble for major tickers