Oil price hike

Other News Chicken prices edge up The Saigon Times Daily Wednesday,  Dec 4, 2019,17:37 (GMT+7) Chicken prices edge upThe Saigon Times Daily A chicken meat stall at a local market. Hikes in the prices of live chickens have driven up chicken meat prices - PHOTO: PHAP LUAT ONLINE HCMC - Hikes in the prices of live chickens have driven up chicken meat prices, following the recent pork price upsurge, Phap Luat newspaper reported. The price of white-feathered chickens has risen strongly at farms, from VND14,000-VND15,000 per kilogram two months ago to VND24,000-VND42,000 per kilogram, while free-range chickens are priced at VND60,000 per kilogram, up from VND38,000. Tam Hoang chickens sell for VND38,000-VND40,000 per kilogram, whereas hybrid chickens are sold at VND39,000-VND43,000 per kilogram. Chicken farmers can earn high profits thanks to the higher prices of chickens. Minh Phuong, owner of a chicken farm in Dong Nai … [Read more...] about Chicken prices edge up

Oil and gas exploitation in Bach Ho field (Photo: VNA) Hanoi (VNA) – A year-on-year drop of 9.6 percent was seen in crude oil exploitation in November this year to 1 million tonnes, according to the Ministry of Industry and Trade. The ministry reported that in the first 11 months of this year, crude oil output reached 12.1 million tonnes, down 5.8 percent over the same period in 2018. Meanwhile, natural gas exploitation in November also fell 10.3 percent year on year to 0.8 billion cu.m. The output in the January-November period was 9.4 billion cu.m, a rise of 1.2 percent compared to the same period last year. At the same time, production of liquefied petroleum gases (LPG) in November was 72,500tonnes, pushing the total in the first 11 months of 2019 to 885,300tonnes, up 7.4 percent year on year. A report from the General Department of Vietnam Customs showed that in the first 11 months of this year, Vietnam shipped more than 3.72 million tonnes of crude oil worth over … [Read more...] about Sharp drop seen in crude oil exploitation

  Some observers say fresh production cuts and a boost to prices would suit Saudi Arabia as it tries to support the IPO of its national oil company Aramco. — AFP Photo VIENNA — Faced with slowing global economic growth and abundant reserves putting pressure on oil prices, the OPEC group and its partners could seek to deepen output cuts when they meet in Vienna on Thursday and Friday. The cuts of 1.2 million barrels per day from October 2018 levels were originally fixed in December last year and were already extended at OPEC's last meeting in July. Some observers expected the cuts to remain in place possibly until the end of 2020. But Iraqi oil minister Thamer Ghadban on his arrival on Tuesday in Vienna suggested some members would push for output to be slashed by an additional 400,000 barrels per day. However, he added that any cut was "very much subject to the member countries". In comments reported by Bloomberg on Wednesday, Ghadban was in favour of extending the … [Read more...] about OPEC considers deeper output cuts as global growth slows

Illustrative image (Source: VNA) HCM City (VNA) – The retail sales and service revenue in Ho Chi Minh City reached more than 94.91 trillion VND (4.07 billion USD) in April, up 2.3 percent from the previous month and 14.4 percent from the same time last year, boosted by strong promotional campaigns by shopping malls and supermarkets during national holidays. Reports from competent authorities showed that revenues went up in the sales of rice (0.6 percent); beef (0.17 percent); confectionary (0.35 percent); and tea, coffee, and cocoa (0.52 percent). Meanwhile, earnings from pork products fell by 3.36 percent, poultry 0.66 percent, seafood 1.79 percent, vegetables 1.91 percent, and fruits 0.06 percent. According to the municipal Department of Industry and Trade, the sufficient supply coupled with the effective market stabilisation programme have kept food prices steady since the beginning of the year. The two adjustments in oil and gas prices in April only impacted the … [Read more...] about HCM City’s retail, services sales up 14.4 percent

Saudi Aramco raises US$25.6 billion in biggest-ever IPO (photo AFP) Aramco priced its initial public offering at 32 riyals (US$8.53) per share, surpassing the US$25 billion raised by Chinese retail giant Alibaba when it debuted on Wall Street in 2014. The sale of 1.5 per cent of Aramco was oversubscribed 4.65 times, the energy giant said in a statement, but the scaled-down IPO is still a far cry from the blockbuster originally planned by Crown Prince Mohammed bin Salman. The much-delayed stock sale, first announced in 2016, was initially expected to raise as much as US$100 billion from the sale of up to 5 per cent of the company. The IPO is the bedrock of Prince Mohammed's ambitious strategy to overhaul the oil-reliant economy by pumping funds into non-energy industries. But sceptics say the IPO's proceeds would barely cover the kingdom's budget deficit for a year. The market launch also puts the Saudi oil behemoth's value at US$1.7 trillion, far ahead of other corporate giants in … [Read more...] about Saudi Aramco raises US$25.6 billion in biggest-ever IPO