In Briefs (02-06-2009) Local gas prices rise after months of decreases HA NOI — Gas prices were increased by VND5,000 (US$0.3) on Sunday to reach VND188,000 ($10.6) per 12kg canister. The increase came after three consecutive months of price decreases. The local price hike was attributed to rising prices in the global market which surged by $35 to $425 per tonne due to increasing prices of crude oil. Work on trade centre, apartment complex starts HA NOI — The Housing and Urban Area Investment Development Corp has announced work will begin on its trade centre and apartment complex in Ha Dong's Van Quan new urban area this month. The company's NewSkyline complex will cover a total area of 7,500sq.m. Plans have also been made to begin construction of a housing office complex in Ha Noi this year. Central province grants licences to 27 projects NGHE AN — Nghe An People's Committee granted licences to five new projects in May worth VND550 billion (US$31 million). This … [Read more...] about Local gas prices rise after months of decreases
Gas prices rise
Cooking gas prices rise for third time
HA NOI — The retail price of a 12-kilo canister of cooking gas on Wednesday increased by VND4,000 to VND244,000 as a result of an adjustment of the interbank exchange rate from VND18,544 to VND18,932 to the dollar on the same day. Sai Gon Petrol Co announced on Thursday that the retail price of a 12-kilo canister of gas would now cost VND244,000. Petrolimex Gas Co meanwhile is selling a 12-kilo canister for VND272,000. This is the third time the gas price has increased since the beginning of the year. HSBC, Dong A Bank win magazine awards HCM CITY — US magazine Global Finance named HSBC Viet Nam the title of Best Consumer Internet Bank in the country. The bank received similar awards in Australia, Brunei, Hong Kong, Japan and Sri Lanka. The award was based on several criteria, such as strength of strategy for attracting and serving online customers, success in getting clients to use web offers, growth of online customers, breadth of product offers, evidence of tangible … [Read more...] about Cooking gas prices rise for third time
Cooking gas prices rise again
Cooking gas prices rise again By Minh Tam - The Saigon Times Daily HCMC – Retail cooking gas prices in Vietnam from Monday increased by VND8,000 to VND365,000-370,000 per 12-kilo cylinder after falling for two months in a row. Local consumers complain that local gas prices do not follow the world market, rising sharply after modest decreases earlier. In May, local enterprises increased gas prices by VND30,000 to a record high of VND380,000 per 12-kilo cylinder after global prices surged US$87.5 to US$970 per ton. After global gas prices plunged US$80 and US$55 per ton in June and July respectively, domestic prices went down just VND15,000 and VND10,000 a cylinder. This is unreasonable as consumers only see mild decreases of gas prices even though global prices fell sharply. The prices continued to jump VND8,000 this month after global gas prices rose US$25, said Hong Phuong, a consumer in HCMC’s Tan Phu District. Consumers are also querying why the Ministry of Finance has … [Read more...] about Cooking gas prices rise again
Gas prices rise sharply
Cooking gas prices in Vietnam are at a 11 year-high after companies announced a sharp hike effective Jan. 1 following a rise in the price of imported gas. The cost of a 12kg cylinder from Petrovietnam Gas, Saigon Petro, Gia Dinh Gas, and Saigon Gas has risen by VND11,000 to VND171,000 ($11). Other companies said they would increase the price in a few days' time since they did not "wish to mar New Year celebrations". Traders said gas prices were normally low at this time of the year but in December 2005 imported gas prices rose from $527/ton to $580. The companies have called for abolishing the 5% import tariff on gas to ease pressure on consumers who face hikes in the prices of various commodities at year-end. Reported by Trung Binh - Translated by Ngoc Hanh … [Read more...] about Gas prices rise sharply
Gas prices rise following refinery shutdown
Retail prices for liquefied petroleum gas (LPG) in Vietnam have increased by about 4 percent after the country temporarily halted operation at the Dung Quat during an equipment check. Ho Chi Minh City-based Saigon Petro said a 12-kilogram cylinder of LPG now costs VND343,000. The company said the shutdown at the country's only oil refinery has led to a supply shortfall. Do Trung Thanh, sales manager at Saigon Petro, said local distributors have had to import more fuel and, as a result, retail prices have gone up. State-owned Vietnam Oil & Gas Group, also known as PetroVietnam, halted production at the Dung Quat refinery for an inspection early last week. The shutdown is expected to last up to three weeks. LPG prices were raised 3 percent earlier this month, to VND330,000 per 12-kilogram cylinder, due to rising world prices. Saigon Petro said local consumers should expect another hike, in April. … [Read more...] about Gas prices rise following refinery shutdown