Vietnam Petroleum Price Stabilization Fund’s Balance Hits VND842Bln in Q1/2014

11:00 PM @ Monday - 14 April, 2014
Vietnam’s petroleum price stabilization fund was estimated to have VND842.016 billion ($39.87 million) margin by end of the first quarter of 2014, dddn.com.vn reported, citing data from the Ministry of Finance (MoF).

The figure is VND672.8 billion higher than the balance at the end of 2013 with VND169.22 billion ($8 million).

Of the sum of VND842 billion outstanding, margin of the Vietnam National Petroleum Group (Petrolimex) hit VND649.3 billion and the balance of the Military Petroleum Corporation reached VND154 billion; followed by Saigon Petro with VND100 billion; Thanh Le Import-Export Company with VND109 billion…. MoF disclosed, providing that in the period, MoF added 2 new firms into the list of petroleum hubs which receive the petroleum price stabilization fund, including Tratimex and Dong Duong-Hoa Phu Jsc, increasing the total number of the domestic petroleum hubs to 19 units.

MoF has just publicized the use and balance of the petroleum price stabilization fund in the first quarter of this year. Accordingly, in the period, Vietnam funded VND1.043 trillion ($49.38 million) for petroleum price stabilization fund and total used amount hit VND370.7 billion ($17.55 million).
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